US Housing Market Data Response Mortgage Applications (Apr.) Applications for refinance and home purchase both increased in April, driven in part by a drop in mortgage interest rates. While an expected increase in rates will dampen refinance activity in the... 4th May 2016 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Mar.) The combination of a steady rise in housing demand and very low levels of housing inventory is putting upwards pressure on house prices. While the very large 1.9% m/m gain is likely to be revised down... 3rd May 2016 · 1 min read
UK Housing Market Data Response Mortgage Lending (Mar.) Mortgage approvals for house purchase dipped a little in March, as the number of new buyers seeking to transact ahead of the stamp-duty surcharge tailed off. But gross lending surged, as those BTL and... 29th April 2016 · 1 min read
China Economics Update Has property finally turned the corner? A recovery in China’s property market appears to be giving a lift to economic growth. This should continue for a few quarters. But the turnaround does not signal that the drawn-out correction in China... 28th April 2016 · 1 min read
UK Housing Market Data Response Nationwide (Apr.) and Land Registry (Mar.) House Price House price growth in April slowed according to the Nationwide index, while the Land Registry’s data showed a month-on-month fall in prices during March. With the economic outlook more subdued and... 28th April 2016 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Feb) The annual rate of house price growth held firm in February. But with conditions in place for housing demand to increase further this year, and inventory levels set to stay low, we expect the rate of... 26th April 2016 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Mar.) The number of house purchase mortgage approvals in the BBA data for high street banks fell in March. That said, with economic conditions still broadly supportive and interest rates at record lows, we... 26th April 2016 · 1 min read
US Housing Market Data Response New Home Sales (Mar.) New home sales fell in March – a weaker performance than we had expected. But with the economic backdrop still supporting housing demand, and inventory levels for new homes still growing, we still... 25th April 2016 · 1 min read
UK Housing Market Update Would Brexit raise mortgage rates? It is possible that an out vote in the EU referendum could push up mortgage interest rates. But if it did, we suspect any rise would be modest and that the drivers of that rise would not be those... 21st April 2016 · 1 min read
US Housing Market Data Response Existing Home Sales (Mar.) Existing home sales reversed some of last month’s drop with a gain of 5.1% m/m. But sales have made essentially no headway over the past year – the annual growth rate dropped to just 1.5%. While... 20th April 2016 · 1 min read
UK Housing Market Outlook House price inflation to converge on earnings growth House price inflation has strengthened a little since our previous Analyst. But the economy has lost a little momentum and forward-looking demand indicators, such as buyer enquiries, are easing... 20th April 2016 · 1 min read
US Housing Market Data Response Housing Starts (Mar.) Housing starts disappointed in March, with a substantial 8.8% drop over the month. And building permits are down to their lowest level in a year. But with mortgage applications rising at a healthy... 19th April 2016 · 1 min read
China Economics Update Property revival shoring up growth, for now The cyclical recovery we had forecast for the start of 2016 appears to be underway. The turnaround has been built on the back of stronger activity in construction and real estate, supported by policy... 18th April 2016 · 1 min read
US Housing Market Update Mortgage applications are understating housing demand Mortgage applications for home purchase are barely half their pre-crisis levels. But a steady rise in the share of applications that are approved means active housing demand from mortgage-dependent... 14th April 2016 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Mar.) Today’s survey data from RICS confirms that the boost to activity generated by April’s stamp duty deadline has peaked. And with the stamp duty deadline now passed, activity should moderate and price... 14th April 2016 · 1 min read
US Housing Market Update Is private investor demand for housing about to drop away? Housing now looks close to fair value, and the supply of distressed properties for sale has fallen. However, while they may struggle to find bargains, we doubt that private investor demand will dry up... 12th April 2016 · 1 min read
