Low mortgage rates, increased supply and a boost from Washington will make 2015 a good year for home buyers, said Malcolm Hollensteiner, Director of Retail Lending Sales and Production at TD Bank. Hollensteiner added that he millennial buyers will enter the housing market in greater numbers than recent years. Meanwhile, he said increasing rental costs in urban areas will lead more consumers to consider buying homes. Hollensteiner said inventory will begin to increase, giving buyers more choice and more leverage in negotiations. Finally, he said President Obama’s decision to lower insurance rates on federally issued mortgages would also make purchasing a home cheaper for prospective buyers.
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