US Housing Market Rapid Response Mortgage Applications (Jul.) June’s rebound in mortgage applications for home purchase was short-lived as total applications fell by 1.7% in July. This pushed applications back down toward 30-year lows and was probably prompted... 2nd August 2023 · 1 min read
US Housing Market Rapid Response Existing Home Sales (Jun.) Existing home sales edged lower, dropping by 3.3% m/m to 4,160,000 annualised in June. That decline takes sales back towards the low of 4.0m recorded in January. And despite a marginal pickup in... 20th July 2023 · 1 min read
US Housing Market Rapid Response Housing Starts (Jun.) Single-family starts fell back from their 11-month high in June, but remained substantially above the average seen in 2023 thus far as homebuilders remained optimistic. However with mortgage rates... 19th July 2023 · 2 mins read
US Housing Market Chart Pack US Housing Market Chart Pack This new Chart Pack has been designed to replace our Chart Book in response to client feedback to make our insights more accessible, and with more options to incorporate them into your workflow. Use... 17th July 2023 · 1 min read
US Housing Market Update Are sales being depressed by mortgage rate lock-in? Surging mortgage rates are undoubtedly dissuading households from moving due to the cost of giving up low fixed rate mortgages, weighing on home sales and inventory. But a similar decrease in sales in... 13th July 2023 · 4 mins read
London Housing Markets Chart Pack London Housing Chart Pack (Q3 2023) This new Chart Pack has been designed to replace our Chart Book in response to client feedback to make our insights more accessible, and with more options to incorporate them into your workflow. Use... 10th July 2023 · 1 min read
UK Housing Market Update An uneven hit from higher mortgage rates The shift to fixed mortgage rates and the rise in the number of homes owned outright means that while some borrowers face a sharp rise in mortgage payments other homeowners will sit out this interest... 6th July 2023 · 5 mins read
US Housing Market Rapid Response Mortgage Applications (Jun.) A slight decline in mortgage rates allowed mortgage applications for home purchase to recover from the previous month’s lows in June. That said, applications remain below the average seen so far this... 6th July 2023 · 1 min read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Apr.) House prices rose in April by the fastest pace in close to a year, reflecting constraints to supply as high mortgage rates have discouraged existing homeowners from moving. Although prices have shown... 27th June 2023 · 2 mins read
US Housing Market Rapid Response Existing Home Sales (May.) As expected, existing home sales remained relatively unchanged in May, rising by +0.2% m/m to 4,300,000 annualised. Despite this marginal rise, a decline in mortgage applications for home purchase in... 22nd June 2023 · 1 min read
UK Housing Market Focus What will be the damage from 6% mortgage rates? A return to mortgage rates of around 6% for the first time since 2007 guarantees a renewed slump in mortgage lending and a further leg down in house prices. Were mortgage rates to be sustained at that... 20th June 2023 · 15 mins read
US Housing Market Rapid Response Housing Starts (May.) Single-family starts saw the largest monthly increase in nearly three years in May, suggesting homebuilders have been responding to the recent rises in new home sales. We still expect a mild recession... 20th June 2023 · 2 mins read
UK Housing Market Data Response Mortgage Lenders and Administrators Return (Q1 23) With mortgage rates surging, the number of loans issued to buy a home dropped sharply in Q1, with Buy-to-Let lending seeing the most severe drop. Those that did press ahead with a home purchase... 13th June 2023 · 2 mins read
US Housing Market Chart Pack Pause in house price declines to prove temporary The seven-month run of house price declines recently ground to a halt, with the Case-Shiller index showing an increase in prices in both February and March. This was partly driven by the temporary... 9th June 2023 · 9 mins read
UK Housing Market Update Refinancing risks increase The recent upward revision to our mortgage rate forecast and the fact that the majority of those that need to refinance this year are on two-year fixes means that we are now more worried about the... 8th June 2023 · 3 mins read
UK Housing Market Update RICS Residential Market Survey (May.) The significant improvement in the RICS survey in May echoed the pause in house price falls in the past few months. But the survey also showed an increase in supply, which could make prices more... 8th June 2023 · 3 mins read