US Economics Weekly Can the recovery continue without housing? The apparent crumbling in the housing recovery has, at least temporarily, removed a valuable support to GDP growth. But the wider economic recovery will carry on regardless and it may not be long... 28th April 2014 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Mar.14) The number of mortgages approved by the major banks dropped for the second consecutive month in March. The data therefore provide further evidence that the housing market recovery may be coming off... 25th April 2014 · 1 min read
US Housing Market Data Response New Home Sales (Mar 14.) The plunge in new home sales in March raises difficult questions about the sustainability of the housing recovery. But with other parts of the economy starting to shrug off the winter malaise, we are... 23rd April 2014 · 1 min read
US Housing Market Data Response Existing Home Sales (Mar.14) The latest small decline in existing home sales cannot easily be passed off as weather-related weakness, as those regions which suffered most from the severe weather saw sales bounce back in March... 22nd April 2014 · 1 min read
UK Housing Market Update Are longer mortgage terms supporting higher house prices? In 2012, almost 30% of new mortgages were advanced with a term of 30 years or longer. By lowering monthly payments, that will have allowed lenders to increase loan-to-income ratios, which can then... 17th April 2014 · 1 min read
US Housing Market Data Response Housing Starts (Mar 14.) The below-expectations increase in housing starts in March, which made up for only one-fifth of earlier weather-related falls, suggests that the shortage of labour and lots is constraining the... 16th April 2014 · 1 min read
UK Housing Market Outlook Boom in London house prices unlikely to spread to the rest of the country House prices are now rising across the country but, London aside, they are not in boom territory. And with some early indications that demand is at least no longer accelerating, we expect prices to... 15th April 2014 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Mar.) The decline in the Teranet measure of house price inflation to 4.6% in March, from 5.0%, reflects the earlier drop back in existing home sales. We expect sales to continue falling, eventually... 14th April 2014 · 1 min read
US Housing Market Update Lower jumbo-conforming spread a positive for mortgage lending The unprecedented negative spread between jumbo and conforming mortgage interest rates did not last for long. But the normalisation of the gap between jumbo and conforming rates marks an important... 11th April 2014 · 1 min read
Europe Economic Outlook Deflation dangers persist The recovery in the European economy appears to have picked up a bit of speed in the early months of 2014. The euro-zone now looks set to expand by 1% or more this year, a significant improvement on... 10th April 2014 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Mar.14) The March RICS housing survey indicates that housing market activity continues to grow at a steady pace. A reluctance to put homes up for sale is putting upwards pressure on house prices, but we... 10th April 2014 · 1 min read
Canada Economics Update Housing downturn will drag on for much longer The recent slowdown in housing starts is just the beginning of a long-term correction that will dampen economic growth this year and next. If, as we expect, new home sales soften further, in response... 8th April 2014 · 1 min read
UK Housing Market Chart Pack Housing market recovery coming off the boil The housing market recovery looks to be losing a little steam, with a number of indicators dropping back over the past month. While that may partly reflect the poor weather, it could also be a sign... 8th April 2014 · 1 min read
UK Housing Market Data Response Halifax House Prices (Mar.14) Halifax reported the largest monthly fall in house prices in almost two years in March. But that only partly reversed last month’s jump and on a more stable measure prices, while not accelerating, are... 4th April 2014 · 1 min read
US Housing Market Data Response Mortgage Applications (Mar.14) The slight increase in mortgage applications for home purchase in March was a step in the right direction. But mortgage demand will have to rise much more strongly than this if mortgage-dependent... 2nd April 2014 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Mar.14) According to the Nationwide, the growth in national house prices eased a touch in March. But London doesn’t appear to have got the memo, and annual growth in the capital reached an 11-year high in the... 2nd April 2014 · 1 min read
