Australia & New Zealand Data Response Australia International Trade & Building Approvals (Nov.) November’s international trade and building approvals figures show that two important supports of the economy softened towards the end of last year. This reinforces our view that GDP growth in the... 7th January 2016 · 1 min read
US Housing Market Data Response Mortgage Applications (Dec.) The collapse in refinancing activity in the final week of 2015 looks to reflect seasonal issues, rather than a reaction to the Fed hiking interest rates. Indeed, applications for home purchase held up... 6th January 2016 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Nov.) House price growth is accelerating as a rise in demand has combined with low inventory levels to boost sellers’ bargaining power. Increases in interest rates will act to cool the market to some extent... 5th January 2016 · 1 min read
UK Housing Market Data Response Mortgage Lending (Nov.) Mortgage approvals for house purchase picked up in November. But the shortage of homes for sale is likely to act as a brake on transactions. Consequently, we think that mortgage lending will continue... 4th January 2016 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Nov.) The recent easing in buyer enquiries is feeding into the mortgage market, with fewer mortgages approved for house purchase in November than in October. 24th December 2015 · 1 min read
US Housing Market Data Response New Home Sales (Nov.) Solid new home sales data for November lend weight to the idea that yesterday’s slump in existing home sales was a blip, not a cause for concern. 23rd December 2015 · 1 min read
Latin America Economics Update Brazil’s housing and credit bubbles: the next shoe to drop? Investors in Brazil are understandably focussed on the economic implications of the recent change in Finance Minister and the impeachment proceedings against President Rousseff. But we think the way... 21st December 2015 · 1 min read
Australia & New Zealand Economic Outlook Revival won't last long The recent resurgence in activity in both Australia and New Zealand is not the start of a sustained period of strong GDP growth. While the near-term outlook has improved, GDP growth in both economies... 17th December 2015 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Nov.) House price inflation rose to a four-year high of 6.1% in November, from 5.6%, but the existing home sales-to-new listings ratio indicates that this might be the peak. 14th December 2015 · 1 min read
Australia & New Zealand Economics Update Four charts on what’s next for house price inflation A variety of forward-looking indicators suggests that house price inflation has well and truly peaked and that a sizeable slowdown lies ahead. House price inflation could even grind to a complete halt... 14th December 2015 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Nov.) The RICS survey revealed a slight deterioration in the number of homes for sale. Admittedly, buyer growth has slowed. But with the number of homes coming onto the market still falling, there are few... 10th December 2015 · 1 min read
Australia & New Zealand Data Response Australia Consumer Confidence (Dec.) Despite the modest fall back in the Westpac measure of consumer confidence in December, from 101.7 in November to 100.8, we don’t expect this to be the beginning of a downward trend as the buoyant... 9th December 2015 · 1 min read
US Housing Market Chart Pack Easing in credit conditions edges up housing demand The lack of housing inventory continues to drive developments in the market. The months’ supply of existing homes for sale has now been below five since May. That is both holding back home sales, and... 8th December 2015 · 1 min read
UK Housing Market Data Response Halifax House Prices and Mortgage Lenders Statistics (Nov/Q3) According to the Halifax, annual house price growth slowed in November, albeit from a very high rate. That said, today’s Bank of England MLAR statistics showed LTIs rising for a second quarter, in... 8th December 2015 · 1 min read
UK Housing Market Chart Pack Buy-to-let lending strengthens There has been little change in housing market conditions over the last month, as the shortage of homes for sale persisted. But it wasn’t all bad news, as the economic backdrop strengthened a little... 4th December 2015 · 1 min read
US Housing Market Data Response Mortgage Applications (Nov.) A rise in mortgage rates led to a sharp drop in mortgage refinancing activity in November. But applications for home purchase fared better, with the weekly breakdown showing an encouraging rise in... 2nd December 2015 · 1 min read
