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
US Housing Market Data Response CoreLogic House Prices (Feb.) The CoreLogic measure reported that house prices continued to rise rapidly in February. However, the recent loosening in supply conditions suggests that runaway house price inflation will not continue... 1st April 2014 · 1 min read
UK Housing Market Data Response Mortgage Lending (Feb.14) Although likely to be temporary, today’s sharp fall in mortgage approvals should go some way towards calming fears that the housing market recovery is rapidly spiralling out of control. 31st March 2014 · 1 min read
Canada Economics Weekly Mortgage rate cuts won't trigger housing rally The decision by Canada's large banks to cut fixed mortgage rates ahead of the typically busy Spring home buying season won't boost sagging home sales. With housing so unaffordable, mortgage rates... 31st March 2014 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (Feb. 14) Rising at just over 5% y/y, the Land Registry house price index shows a rather less frothy picture than the main lenders' indices. It also emphasises how big a role London is playing in driving up the... 28th March 2014 · 1 min read
US Housing Market Data Response Case-Shiller Prices & New Home Sales (Jan./Feb.14) The rapid, double-digit increases in house prices are unlikely to continue now that housing market supply conditions are loosening. 25th March 2014 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Feb.14) The slight decline in mortgage approvals for house purchase in February is almost certainly a blip, and doesn’t herald the end of the revival in mortgage lending. But it does suggest mortgage lending... 25th March 2014 · 1 min read
UK Housing Market Update Why is the Land Registry reporting slower house price growth? House price growth may be entering double-digit territory on the Nationwide measure, but that is certainly not the case according to the Land Registry. The difference may reflect the inclusion of cash... 21st March 2014 · 1 min read
