It is always refreshing to hear a honest assessment of one's own prediction, especially when they are perfect. Yet, an accurate prediction of any year's economy has odds close to winning the Powerball Lottery! So many variable go into the U.S. let alone the World economy that impacts us all.
As Jim properly notes in this update, all markets are local. Thus, everyone needs to speak with a local Realtor in his/her market to really know how the local market is faring at any given time.
Yet, Jim's summary of the recent mortgage rates rise in context of the economy could be broadly applied:
To be sure, mortgage rates are on the rise, but this shouldn't be feared as long as the trend in the mitigating factors – income growth and job growth, in particular – continue to trend in the right direction.
As you read the 2014 comments, you can see the trend is expected to continue!!
HAPPY NEW YEAR!!!