The CorLogic website has published a detailed commentary reinforcing the movement toward recovery for our Real Estate market this year.

Citing economic growth strengthened by a drop in energy prices, rising consumer confidence index and improvement in state and local government budgets, the article explains how these favorable factors will contribute to a boost in the 2015 Real Estate market.

Current mortgage rates are almost unbelievably low (see rate chart below), but I wouldn’t place a bet on rates remaining this way for long. As economic markets in the rest of the world increase, US mortgage rates will rise. There’s no telling how quickly that will happen but take a moment to look at today’s rates and ask yourself if this can last.

Something that I’ve been cautiously optimistic about in recent weeks is the loosening of regulation in the mortgage industry. The initial knee-jerk to the real estate bubble placed far more blame on the general public than deserved, and now seems to be leaning back in the direction of reasonable. Fees on FHA mortgages have been reduced and some credit requirements relaxed.

There has been a slow, steady increase as opposed to a jump in real estate prices nationwide. This has the face of a normal, balanced market and not the out-of-control look and feel of a bubble.

Confidence seems to be the name of the game in the real estate industry right now. It’s been a while since ‘normal’ has meant ‘stable’, and home ownership has felt like a sound financial move, but I like our chances this time around.

Rate Data Provided by Bankrate.com via NASDAQ