The new year is finally here and there are a few different trends that may impact the housing market. Job improvement, preferences of the new generation of homebuyers, changing mortgage rates, home values, housing starts and population growth may ultimately dictate the expansion of the market in 2015 according to Fortune. 

The new generation of homebuyers

Millennials are predicted to dictate the growth or decline of the housing market.The U.S. Census Bureau accounted for 73 million young adults aged 18 to 34 in the nation. This is the largest generation in three decades and Fortune believes many of these individuals making up the demographic will be ready to upgrade to new homes this year due to marriage and family planning. 

According to Realtor.com's chief economist, Jonathan Smoke, 2015 will be the year that the presence of millennials will notably impact the housing market. Smoke predicts that in the next five years millennials will make up two-thirds of all new households.  

An improving economy and job market also may provide benefits for this generation more than any other demographic in the U.S. According to Smoke, job growth for millennials proves to be 60 percent better than the rest of the country. An expanding job market may be the necessary ingredients to nudge this generation in the direction of homebuying. 

Mortgage rates predicted to increase 

This prediction certainly sounds familiar. Economists once again predict mortgage rates to increase in the upcoming year. While they may not have been quite so spot-on with their predictions for 2014, many insist on the inevitability of higher rates. Fortune's poll of economists indicated an anticipated average 5 percent interest rate for a 30-year fixed rate mortgage and Freddie Mac forecast a more conservative rate of 4.6 percent by the end of 2015. 

Increased number of home starts and sales anticipated 

Freddie Mac expects to see a jump in both home starts and sales in the upcoming year. A 20 percent leap in housing starts and a 5 percent increase in home sales are anticipated by the company. Single-family and rental apartment space will be the primary real estate options started and sold in 2015. 

Fannie Mae projected a year-over-year increase of 22.2 percent in single-family home starts this year and the company anticipated single-family home sales to increase 18.7 percent year over year. These jumps are predicted due to a potential rising demand for housing brought about by aging millennials. 

Lower oil prices may impact housing market 

Oil prices have dipped impressively low toward the end of 2014. In fact, USA Today Money reported Dec. 31 as the lowest annual price drop since 2008. U.S. crude oil fell 46 percent Dec. 21 and Brent decreased 48 percent for the year. 

DS News reported the dropping price of crude oil may lead to potential homebuyers feeling more comfortable purchasing a home due to lower energy costs. In addition, paying less at the pump provides a little extra cushion in everyone's budgets. 

That overall savings could encourage first-time buyers to move into the market and existing homeowners to potentially upgrade. Consumers with a little extra spending money from all that savings are more likely to invest in housing. This possible increased demand could bolster the housing market in 2015. 

Home values forecast to increase

In Fortune's poll, nearly all economists agreed that home values will continue to rise but believed this would occur at a far slower pace. The rebound after the housing market crisis in 2008 propelled the rapid acceleration seen prior to 2015 and economists predict that the rebound may be losing steam.

The anticipated increase in home values, along with predicted rising mortgage rates, may ultimately contribute to lower affordability in 2015.

The new year is finally here and there are a few different trends that may impact the housing market. Job improvement, preferences of the new generation of homebuyers, changing mortgage rates, home values, housing starts and population growth may ultimately dictate the expansion of the market in 2015 according to Fortune. The new generation of homebuyers Millennials are predicted to dictate the growth or decline of the housing market.The U.S. Census Bureau accounted for 73 million young adults aged 18 to 34 in the nation. This is the largest generation in three decades and Fortune believes many of these individuals making up the demographic will be ready to upgrade to new homes this year due to marriage and family planning. According to Realtor.com's chief economist, Jonathan Smoke, 2015 will be the year that the presence of millennials will notably impact the housing market. Smoke predicts that in the next five years millennials will make up two-thirds of all new households. An improving economy and job market also may provide benefits for this generation more than any other demographic in the U.S. According to Smoke, job growth for millennials proves to be 60 percent better than the rest of the country. An expanding job market may be the necessary ingredients to nudge this generation in the direction of homebuying. Mortgage rates predicted to increase This prediction certainly sounds familiar. Economists once again predict mortgage rates to increase in the upcoming year. While they may not have been quite so spot-on with their predictions for 2014, many insist on the inevitability of higher rates. Fortune's poll of economists indicated an anticipated average 5 percent interest rate for a 30-year fixed rate mortgage and Freddie Mac forecast a more conservative rate of 4.6 percent by the end of 2015. Increased number of home starts and sales anticipated Freddie Mac expects to see a jump in both home starts and sales in the upcoming year. A 20 percent leap in housing starts and a 5 percent increase in home sales are anticipated by the company. Single-family and rental apartment space will be the primary real estate options started and sold in 2015. Fannie Mae projected a year-over-year increase of 22.2 percent in single-family home starts this year and the company anticipated single-family home sales to increase 18.7 percent year over year. These jumps are predicted due to a potential rising demand for housing brought about by aging millennials. Lower oil prices may impact housing market Oil prices have dipped impressively low toward the end of 2014. In fact, USA Today Money reported Dec. 31 as the lowest annual price drop since 2008. U.S. crude oil fell 46 percent Dec. 21 and Brent decreased 48 percent for the year. DS News reported the dropping price of crude oil may lead to potential homebuyers feeling more comfortable purchasing a home due to lower energy costs. In addition, paying less at the pump provides a little extra cushion in everyone's budgets. That overall savings could encourage first-time buyers to move into the market and existing homeowners to potentially upgrade. Consumers with a little extra spending money from all that savings are more likely to invest in housing. This possible increased demand could bolster the housing market in 2015. Home values forecast to increase In Fortune's poll, nearly all economists agreed that home values will continue to rise but believed this would occur at a far slower pace. The rebound after the housing market crisis in 2008 propelled the rapid acceleration seen prior to 2015 and economists predict that the rebound may be losing steam. The anticipated increase in home values, along with predicted rising mortgage rates, may ultimately contribute to lower affordability in 2015.

The new year is finally here and there are a few different trends that may impact the housing market. Job improvement, preferences of the new generation of homebuyers, changing mortgage rates, home values, housing starts and population growth may ultimately dictate the expansion of the market in 2015 according to Fortune. The new generation of homebuyers Millennials are predicted to dictate the growth or decline of the housing market.The U.S. Census Bureau accounted for 73 million young adults aged 18 to 34 in the nation. This is the largest generation in three decades and Fortune believes many of these individuals making up the demographic will be ready to upgrade to new homes this year due to marriage and family planning. According to Realtor.com's chief economist, Jonathan Smoke, 2015 will be the year that the presence of millennials will notably impact the housing market. Smoke predicts that in the next five years millennials will make up two-thirds of all new households. An improving economy and job market also may provide benefits for this generation more than any other demographic in the U.S. According to Smoke, job growth for millennials proves to be 60 percent better than the rest of the country. An expanding job market may be the necessary ingredients to nudge this generation in the direction of homebuying. Mortgage rates predicted to increase This prediction certainly sounds familiar. Economists once again predict mortgage rates to increase in the upcoming year. While they may not have been quite so spot-on with their predictions for 2014, many insist on the inevitability of higher rates. Fortune's poll of economists indicated an anticipated average 5 percent interest rate for a 30-year fixed rate mortgage and Freddie Mac forecast a more conservative rate of 4.6 percent by the end of 2015. Increased number of home starts and sales anticipated Freddie Mac expects to see a jump in both home starts and sales in the upcoming year. A 20 percent leap in housing starts and a 5 percent increase in home sales are anticipated by the company. Single-family and rental apartment space will be the primary real estate options started and sold in 2015. Fannie Mae projected a year-over-year increase of 22.2 percent in single-family home starts this year and the company anticipated single-family home sales to increase 18.7 percent year over year. These jumps are predicted due to a potential rising demand for housing brought about by aging millennials. Lower oil prices may impact housing market Oil prices have dipped impressively low toward the end of 2014. In fact, USA Today Money reported Dec. 31 as the lowest annual price drop since 2008. U.S. crude oil fell 46 percent Dec. 21 and Brent decreased 48 percent for the year. DS News reported the dropping price of crude oil may lead to potential homebuyers feeling more comfortable purchasing a home due to lower energy costs. In addition, paying less at the pump provides a little extra cushion in everyone's budgets. That overall savings could encourage first-time buyers to move into the market and existing homeowners to potentially upgrade. Consumers with a little extra spending money from all that savings are more likely to invest in housing. This possible increased demand could bolster the housing market in 2015. Home values forecast to increase In Fortune's poll, nearly all economists agreed that home values will continue to rise but believed this would occur at a far slower pace. The rebound after the housing market crisis in 2008 propelled the rapid acceleration seen prior to 2015 and economists predict that the rebound may be losing steam. The anticipated increase in home values, along with predicted rising mortgage rates, may ultimately contribute to lower affordability in 2015.

The new year is finally here and there are a few different trends that may impact the housing market. Job improvement, preferences of the new generation of homebuyers, changing mortgage rates, home values, housing starts and population growth may ultimately dictate the expansion of the market in 2015 according to Fortune. The new generation of homebuyers Millennials are predicted to dictate the growth or decline of the housing market.The U.S. Census Bureau accounted for 73 million young adults aged 18 to 34 in the nation. This is the largest generation in three decades and Fortune believes many of these individuals making up the demographic will be ready to upgrade to new homes this year due to marriage and family planning. According to Realtor.com's chief economist, Jonathan Smoke, 2015 will be the year that the presence of millennials will notably impact the housing market. Smoke predicts that in the next five years millennials will make up two-thirds of all new households. An improving economy and job market also may provide benefits for this generation more than any other demographic in the U.S. According to Smoke, job growth for millennials proves to be 60 percent better than the rest of the country. An expanding job market may be the necessary ingredients to nudge this generation in the direction of homebuying. Mortgage rates predicted to increase This prediction certainly sounds familiar. Economists once again predict mortgage rates to increase in the upcoming year. While they may not have been quite so spot-on with their predictions for 2014, many insist on the inevitability of higher rates. Fortune's poll of economists indicated an anticipated average 5 percent interest rate for a 30-year fixed rate mortgage and Freddie Mac forecast a more conservative rate of 4.6 percent by the end of 2015. Increased number of home starts and sales anticipated Freddie Mac expects to see a jump in both home starts and sales in the upcoming year. A 20 percent leap in housing starts and a 5 percent increase in home sales are anticipated by the company. Single-family and rental apartment space will be the primary real estate options started and sold in 2015. Fannie Mae projected a year-over-year increase of 22.2 percent in single-family home starts this year and the company anticipated single-family home sales to increase 18.7 percent year over year. These jumps are predicted due to a potential rising demand for housing brought about by aging millennials. Lower oil prices may impact housing market Oil prices have dipped impressively low toward the end of 2014. In fact, USA Today Money reported Dec. 31 as the lowest annual price drop since 2008. U.S. crude oil fell 46 percent Dec. 21 and Brent decreased 48 percent for the year. DS News reported the dropping price of crude oil may lead to potential homebuyers feeling more comfortable purchasing a home due to lower energy costs. In addition, paying less at the pump provides a little extra cushion in everyone's budgets. That overall savings could encourage first-time buyers to move into the market and existing homeowners to potentially upgrade. Consumers with a little extra spending money from all that savings are more likely to invest in housing. This possible increased demand could bolster the housing market in 2015. Home values forecast to increase In Fortune's poll, nearly all economists agreed that home values will continue to rise but believed this would occur at a far slower pace. The rebound after the housing market crisis in 2008 propelled the rapid acceleration seen prior to 2015 and economists predict that the rebound may be losing steam. The anticipated increase in home values, along with predicted rising mortgage rates, may ultimately contribute to lower affordability in 2015.

The new year is finally here and there are a few different trends that may impact the housing market. Job improvement, preferences of the new generation of homebuyers, changing mortgage rates, home values, housing starts and population growth may ultimately dictate the expansion of the market in 2015 according to Fortune. 

The new generation of homebuyers

Millennials are predicted to dictate the growth or decline of the housing market.The U.S. Census Bureau accounted for 73 million young adults aged 18 to 34 in the nation. This is the largest generation in three decades and Fortune believes many of these individuals making up the demographic will be ready to upgrade to new homes this year due to marriage and family planning. 

According to Realtor.com's chief economist, Jonathan Smoke, 2015 will be the year that the presence of millennials will notably impact the housing market. Smoke predicts that in the next five years millennials will make up two-thirds of all new households.  

An improving economy and job market also may provide benefits for this generation more than any other demographic in the U.S. According to Smoke, job growth for millennials proves to be 60 percent better than the rest of the country. An expanding job market may be the necessary ingredients to nudge this generation in the direction of homebuying. 

Mortgage rates predicted to increase 

This prediction certainly sounds familiar. Economists once again predict mortgage rates to increase in the upcoming year. While they may not have been quite so spot-on with their predictions for 2014, many insist on the inevitability of higher rates. Fortune's poll of economists indicated an anticipated average 5 percent interest rate for a 30-year fixed rate mortgage and Freddie Mac forecast a more conservative rate of 4.6 percent by the end of 2015. 

Increased number of home starts and sales anticipated 

Freddie Mac expects to see a jump in both home starts and sales in the upcoming year. A 20 percent leap in housing starts and a 5 percent increase in home sales are anticipated by the company. Single-family and rental apartment space will be the primary real estate options started and sold in 2015. 

Fannie Mae projected a year-over-year increase of 22.2 percent in single-family home starts this year and the company anticipated single-family home sales to increase 18.7 percent year over year. These jumps are predicted due to a potential rising demand for housing brought about by aging millennials. 

Lower oil prices may impact housing market 

Oil prices have dipped impressively low toward the end of 2014. In fact, USA Today Money reported Dec. 31 as the lowest annual price drop since 2008. U.S. crude oil fell 46 percent Dec. 21 and Brent decreased 48 percent for the year. 

DS News reported the dropping price of crude oil may lead to potential homebuyers feeling more comfortable purchasing a home due to lower energy costs. In addition, paying less at the pump provides a little extra cushion in everyone's budgets. 

That overall savings could encourage first-time buyers to move into the market and existing homeowners to potentially upgrade. Consumers with a little extra spending money from all that savings are more likely to invest in housing. This possible increased demand could bolster the housing market in 2015. 

Home values forecast to increase

In Fortune's poll, nearly all economists agreed that home values will continue to rise but believed this would occur at a far slower pace. The rebound after the housing market crisis in 2008 propelled the rapid acceleration seen prior to 2015 and economists predict that the rebound may be losing steam.

The anticipated increase in home values, along with predicted rising mortgage rates, may ultimately contribute to lower affordability in 2015.

Looking for a new home, especially your first home, is an exciting time. But don't let the excitement take your eyes off the task at hand: buying a solid house that is a wise investment. After all, this 'house' you are looking at might very well end up being your 'home'! When you are shopping, making some of these observations yourself can give you guidance as to whether or not you need to bring in a pro to do a full inspection. Check out what you should look for up-front in this article.

• Housing Market Predictions for 2015

   

  The new year is finally here and there are a few different trends that may impact the housing market. Job improvement, preferences of the new generation of homebuyers, changing mortgage rates, home values, housing starts and population growth may ultimately dictate the expansion of the market in 2015 according to Fortune. 

  The new generation of homebuyers
  
  Millennials are predicted to dictate the growth or decline of the housing market.The U.S. Census Bureau accounted for 73 million young adults aged 18 to 34 in the nation. This is the largest generation in three decades and Fortune believes many of these individuals making up the demographic will be ready to upgrade to new homes this year due to marriage and family planning. 

  According to Realtor.com's chief economist, Jonathan Smoke, 2015 will be the year that the presence of millennials will notably impact the housing market. Smoke predicts that in the next five years millennials will make up two-thirds of all new households.  

  An improving economy and job market also may provide benefits for this generation more than any other demographic in the U.S. According to Smoke, job growth for millennials proves to be 60 percent better than the rest of the country. An expanding job market may be the necessary ingredients to nudge this generation in the direction of homebuying. 

  Mortgage rates predicted to increase 
  
  This prediction certainly sounds familiar. Economists once again predict mortgage rates to increase in the upcoming year. While they may not have been quite so spot-on with their predictions for 2014, many insist on the inevitability of higher rates. Fortune's poll of economists indicated an anticipated average 5 percent interest rate for a 30-year fixed rate mortgage and Freddie Mac forecast a more conservative rate of 4.6 percent by the end of 2015. 

  Increased number of home starts and sales anticipated 
  
  Freddie Mac expects to see a jump in both home starts and sales in the upcoming year. A 20 percent leap in housing starts and a 5 percent increase in home sales are anticipated by the company. Single-family and rental apartment space will be the primary real estate options started and sold in 2015. 

  Fannie Mae projected a year-over-year increase of 22.2 percent in single-family home starts this year and the company anticipated single-family home sales to increase 18.7 percent year over year. These jumps are predicted due to a potential rising demand for housing brought about by aging millennials. 

  Lower oil prices may impact housing market 
  
  Oil prices have dipped impressively low toward the end of 2014. In fact, USA Today Money reported Dec. 31 as the lowest annual price drop since 2008. U.S. crude oil fell 46 percent Dec. 21 and Brent decreased 48 percent for the year. 

  DS News reported the dropping price of crude oil may lead to potential homebuyers feeling more comfortable purchasing a home due to lower energy costs. In addition, paying less at the pump provides a little extra cushion in everyone's budgets. 

  That overall savings could encourage first-time buyers to move into the market and existing homeowners to potentially upgrade. Consumers with a little extra spending money from all that savings are more likely to invest in housing. This possible increased demand could bolster the housing market in 2015. 

  Home values forecast to increase
  
  In Fortune's poll, nearly all economists agreed that home values will continue to rise but believed this would occur at a far slower pace. The rebound after the housing market crisis in 2008 propelled the rapid acceleration seen prior to 2015 and economists predict that the rebound may be losing steam.

  The anticipated increase in home values, along with predicted rising mortgage rates, may ultimately contribute to lower affordability in 2015.

The Supreme Court recently heard arguments in a case challenging the wording and intent of rescission. Rescission is the voiding of a contract between two parties.  In this case, the focus is on borrowers voiding contracts with lenders, and the verdict is good news for borrowers. The Court gave a clear and undeniable decision that the statute means just what it says. In the case of Jesinoski v. Countrywide Home Loans the Court clearly denied the lender's position that the lendee must initiate legal action for a rescission to be recognized. The Court slammed that premise and rendered all remaining objections invalid and meaningless. Read more on the Court's decision and how it affects borrowers here.

Solar power is now more affordable in over 80% of the biggest U.S. cities. Solar is not only a money saver, but it's a great investment in your home as well. Solar is no longer the exclusive domain of the wealthy, and there is a clear gap in the reality and the perception of solar. In certain states, extra solar electricity can be sold back into the grid. It's even a better dollar for dollar investment than the S&P 500. Find out more here

The Seattle area offers up some interesting insight and trends in real estate that may get traction in the national picture before you know it. In 2014, the hottest properties on the market were apartments. Investors were grabbing rental properties faster than office buildings, and that trend may be matching the market outlook in some areas. Young people are renting for longer before buying, and the job market is strong. Could the Seattle model unfold across the country, creating a seller's market? Read some more predictions and insights here.