US Housing Market Data Response Case-Shiller Home Prices (Q2) Average US house prices rose at double-digit levels once again in the second quarter. But adjusting for normal seasonal patterns, all three of the main Case-Shiller indices suggest that the rate of... 27th August 2013 · 1 min read
US Housing Market Data Response New Home Sales (Jul.) The sharp drop in new home sales in July, and the downward revision to June’s figure, suggest that the spike in mortgage interest rates is taking more of a toll on housing market activity than we had... 23rd August 2013 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Jul.13) The steady growth in mortgage approvals stalled in July, and net lending was negative for an unprecedented seventh month in a row. While this is probably a blip, it highlights that lenders are still... 23rd August 2013 · 1 min read
US Housing Market Data Response Existing Home Sales (Jul. 13) The increase in existing home sales in July suggests that the rise in mortgage rates prompted some buyers to rush through with a home sale before rates became higher still. This stimulatory effect... 21st August 2013 · 1 min read
UK Housing Market Update Will forward guidance provide a further boost to the housing market? By reducing households’ concerns that mortgage rates will increase in the near future, forward guidance has the potential to provide a further boost to housing demand. But while the policy can’t harm... 21st August 2013 · 1 min read
US Housing Market Focus Is US housing more expensive than everyone thinks? The rapid increase in US house prices over the past year, and the sharp run up in mortgage interest rates over the past few months, have brought issues of housing valuation and affordability into... 20th August 2013 · 1 min read
UK Housing Market Focus Will mortgage guarantees be as successful as equity loans? After the success of the Help to Buy equity loan scheme, there are concerns that the potentially much larger mortgage guarantee aspect of the scheme could trigger a new house price boom when it is... 19th August 2013 · 1 min read
US Housing Market Data Response Housing Starts (Jul 13.) The increase in housing starts in July was driven by the multi-family sector, with single-family starts posting a small decline. The recovery in multi-family starts has been the driving force behind... 16th August 2013 · 1 min read
Canada Economics Update Home sales likely to drop back before year end The recent uptick in existing homes sales most likely reflects a rush by home buyers to complete deals before mortgage rates rise further. However, this has only pulled forward sales that would have... 15th August 2013 · 1 min read
US Housing Market Update Will MBS be tapered first or last and does it matter for housing? Although the Fed may opt for the simplicity of running down purchases of both Treasuries and MBS simultaneously, we think that it makes sense to leave tapering of MBS purchases for last. That said... 15th August 2013 · 1 min read
UK Housing Market Data Response Housebuilding (Q2) Private housing starts are increasing as builders begin to respond to the boost in demand from record low mortgage rates and the Help to Buy equity loan scheme. But with the supply response so far... 15th August 2013 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Jul.) The continued deceleration in house price inflation across most major cities in July is broadly consistent with the past slowdown in home sales. As demand and supply imbalances continue to intensify... 14th August 2013 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Jul.) The latest RICS housing survey reported a jump in demand for homes and house prices, as record low mortgage rates tempt more people into buying a home. But with housing overvalued, a rise in prices... 13th August 2013 · 1 min read
Canada Economics Weekly Homebuilders are having a Wile E. Coyote moment While housing starts have displayed some surprising resilience over the past several months, which would seem to support the consensus view that the housing market is enjoying a soft landing, more... 12th August 2013 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q2) The fall in mortgage delinquencies, fewer foreclosure starts and the lower foreclosure inventory rate in Q2 are all encouraging signs that the fundamentals of the housing market are mending. Although... 9th August 2013 · 1 min read
UK Housing Market Chart Pack Housing market shows steady recovery Record low mortgage rates and the Help to Buy equity loan scheme have given a boost to housing demand, which has helped house prices to make some gains. But with more homes now coming onto the market... 9th August 2013 · 1 min read
