Living Hope.
Blessed be the God and Father of our Lord Jesus Christ, who according to His abundant mercy has begotten us again to a living hope through the resurrection of Jesus Christ from the dead, 1 Peter 1:3 NKJV
Blessed be God We have said that the main object of this epistle is to raise us above the world, in order that we may be prepared and encouraged to sustain the spiritual contests of our warfare. For this end, the knowledge of God's benefits avails much; for, when their value appears to us, all other things will be deemed worthless, especially when we consider what Christ and his blessings are; for everything without him is but dross. For this reason he highly extols the wonderful grace of God in Christ, that is, that we may not deem it much to give up the world in order that we may enjoy the invaluable treasure of a future life; and also that we may not be broken down by present troubles, but patiently endure them, being satisfied with eternal happiness.
Further, when he gives thanks to God, he invites the faithful to spiritual joy, which can swallow up all the opposite feelings of the flesh.
And Father of our Lord Jesus Christ Understand the words thus, -- "Blessed be God who is the Father of Jesus Christ." For, as formerly, by calling himself the God of Abraham, he designed to mark the difference between him and all fictitious gods; so after he has manifested himself in his own Son, his will is, not to be known otherwise than in him. Hence they who form their ideas of God in his naked majesty apart from Christ, have an idol instead of the true God, as the case is with the Jews and the Turks. Whosoever, then, seeks really to know the only true God, must regard him as the Father of Christ; for, whenever our mind seeks God, except Christ be thought of, it will wander and be confused, until it be wholly lost. Peter meant at the same time to intimate how God is so bountiful and kind towards us; for, except Christ stood as the middle person, his goodness could never be really known by us.
Who hath begotten us again He shews that supernatural life is a gift, because we are born the children of wrath; for had we been born to the hope of life according to the flesh, there would have been no necessity of being begotten again by God. Therefore Peter teaches us, that we who are by nature destined to eternal death, are restored to life by God's mercy. And this is, as it were, our second creation, as it is said in the first chapter of the Epistle to the Ephesians or living hope, means the hope of life. At the same time there seems to be an implied contrast between the hope fixed on the incorruptible kingdom of God, and the fading and transient hopes of man.
According to his abundant mercy He first mentions the efficient cause, and then he points out the mediating cause, as they say. He shews that God was induced by no merits of ours to regenerate us unto a living hope, because he assigns this wholly to his mercy. But that he might more completely reduce the merits of works to nothing, he says, great (multam) mercy. All, indeed, confess that God is the only author of our salvation, but they afterwards invent extraneous causes, which take away so much from his mercy. But Peter commends mercy alone; and he immediately connects the way or manner, by the resurrection of Christ; for God does not in any other way discover his mercy; hence Scripture ever directs our attention to this point. And that Christ's death is not mentioned, but his resurrection, involves no inconsistency, for it is included; because a thing cannot be completed without having a beginning; and he especially brought forward the resurrection, because he was speaking of a new life. - John Calvin