US Housing Market Update What next for mortgage interest rates? The decline in long-term Treasury yields almost certainly means that 30-year mortgage interest rates have further to fall and that any subsequent rises will be more gradual than we previously... 20th January 2015 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Dec.) While housing demand fell once again in December, the final RICS survey of 2014 reported that surveyors were hopeful that the reforms to stamp duty will boost both housing market activity and prices... 15th January 2015 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Dec.) Although the Teranet-National Bank measure shows house price inflation slowing slightly to 4.9% in December, from 5.2%, price gains are still outpacing growth in household incomes. The upshot is that... 14th January 2015 · 1 min read
US Housing Market Update How will lower oil prices affect housing? If production and employment are scaled back, housing markets in some oil-producing States, which have recently been among the most buoyant, could potentially suffer. But any drag that this may... 12th January 2015 · 1 min read
UK Housing Market Data Response Halifax House Prices (Dec.) The surprisingly large 0.9% gain in house prices during December reported by the Halifax hides a further cooling in the underlying growth rate. But the stamp duty reform, strong economic backdrop and... 8th January 2015 · 1 min read
UK Housing Market Chart Pack Housing market activity ends 2014 on a low The housing market ended 2014 on a subdued note as demand, sales instructions, mortgage lending and transactions all declined. But with mortgage rates now also falling, and stamp duty reform set to... 7th January 2015 · 1 min read
US Housing Market Data Response Mortgage Applications (Dec.) The further drop in 30-year mortgage interest rates, to within a whisker of 4%, as well as the rip-roaring performance of the labour market, are yet to be reflected in mortgage applications. But there... 7th January 2015 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Nov.) It is too soon to tell whether the slight moderation in the month-on-month rate of house price inflation in November is the first sign that price pressures are coming off the boil again. Regardless... 6th January 2015 · 1 min read
UK Data Response Bank of England Credit Conditions Survey (Q4) Demand for mortgage lending contracted at the fastest pace since the financial crisis in the final quarter of 2014, but lenders expect a small recovery at the start of this year. By contrast, demand... 6th January 2015 · 1 min read
US Housing Market Data Response New Home Sales (Nov.) The new homes market continues to be very subdued, with a further drop in sales in November pushing the stock of new homes up for the ninth month in a row. But a number of factors, including strong... 23rd December 2014 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Nov.) The BBA reported a further drop in mortgage approvals for house purchase in November, which are now down almost 20% compared to last year. However, the reforms to stamp duty and lifting of regulatory... 23rd December 2014 · 1 min read
US Housing Market Data Response Existing home sale (Nov.) Ignore the usual suspects who will claim that the unexpected 6.1% m/m decline in existing home sales in November is a sign that the housing or wider economic recovery just fell off the rails. They... 22nd December 2014 · 1 min read
US Housing Market Outlook The acceleration in house price growth is temporary House prices have regained fresh upward momentum in recent months. But as existing homeowners and homebuilders respond to higher prices by increasing supply, price gains will stabilise at 4% per annum... 22nd December 2014 · 1 min read
UK Housing Market Update Prime central London values under pressure The uncertainty generated by the slump in oil prices and the crisis in Russia have the potential to give a short-term boost to safe haven demand for prime central London homes. But beyond that... 19th December 2014 · 1 min read
UK Housing Market Update Stamp duty reform will boost house prices by 3% to 5% in 2015 We estimate that the direct impact of the reform to stamp duty will boost house prices by a relativelyminor 0.6%. But the indirect effect of reducing upfront costs and boosting housing market... 17th December 2014 · 1 min read
US Housing Market Data Response Housing Starts (Nov.) The latest homebuilding figures were a mixed bag, with starts declining in November but only because of an upward revision to October’s estimate. On balance, these data support our view that the... 16th December 2014 · 1 min read
