US Housing Market Data Response CoreLogic House Prices (Feb.) Coming hot on the heels of the slightly more encouraging mortgage applications numbers released this morning, the small rise in the CoreLogic measure of house prices in February is another sign that... 4th April 2012 · 1 min read
US Housing Market Data Response Mortgage Applications (Mar.) It’s too early to conclude that March’s increase in mortgage applications for home purchase is the start of an upward trend. But the sharp rise in average loan size certainly seems consistent with an... 4th April 2012 · 1 min read
UK Data Response Halifax House Prices (Mar.) The sharp rise in the Halifax house price index in March simply reverses the dip seen since last July. Therefore, it does little to alter the picture of a housing market that remains very weak. 4th April 2012 · 1 min read
UK Housing Market Chart Pack Mortgage credit conditions tighten again Given that the stamp duty-driven boost to activity seems to have had little material impact on house prices, its reversal is not obviously a cause for concern. But the same cannot be said of the... 3rd April 2012 · 1 min read
US Housing Market Update Principal reductions useful, but no silver bullet Principal reductions on mortgages held by Fannie Mae and Freddie Mac would herald a policy initiative that directly addresses one of the biggest problems facing the housing market. It won’t solve the... 30th March 2012 · 1 min read
UK Housing Market Data Response Mortgage Lending & Credit Conditions (Feb/Q1) February’s sharp drop in mortgage approvals was no doubt partly driven by the end of the stamp duty holiday last weekend. But the fact that banks tightened credit scoring criteria in the first quarter... 29th March 2012 · 1 min read
UK Data Response Approvals, M4, Credit Conditions & Productivity The overall message from today’s data was that weak bank lending is likely to remain a significant constraint on the economic recovery. 29th March 2012 · 1 min read
UK Data Response Nationwide House Prices (Mar.) The Nationwide house price index recorded its largest drop in two years in March, suggesting that our forecast of a 5% drop during 2012 remains on track. 29th March 2012 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Jan.) The stabilisation in Case-Shiller house prices in January adds to other evidence that the housing market is on the mend. We expect that 2012 will go down in history as the year that the most severe... 27th March 2012 · 1 min read
US Housing Market Data Response New Home Sales (Feb.) The further fall in new home sales in February was probably driven by the unwinding of the boost to sales activity from the recent unseasonably warm weather. We expect continued employment growth and... 23rd March 2012 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (Feb.) Today’s Land Registry data highlight both the strength of house prices in London as well as their weakness in the North East. That divergence might well increase further this year, but we remain... 23rd March 2012 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Feb.) February’s drop in mortgage approvals is likely to reflect a combination of factors - the looming end of the stamp duty holiday, weak consumer confidence and, potentially, a more cautious mood among... 23rd March 2012 · 1 min read
UK Housing Market Update 2012 Budget - Stamp Duty takes centre stage again The new higher rate of stamp duty for £2m-plus properties, as well as a clampdown on avoidance schemes, is likely to dampen activity at the top end of the London housing market. But we doubt that the... 21st March 2012 · 1 min read
US Housing Market Data Response Existing Home Sales (Feb.) The 0.9% m/m fall in existing home sales in February suggests that the boost from the good weather has started to fade. But strong demand from investors and a growing willingness of banks to lend... 21st March 2012 · 1 min read
UK Housing Market Update Will the North/South split in house prices increase? Our current forecasts envisage that the relatively tight market conditions in the South will result in the North/South house price gap widening by around 5% to 6% this year. But if we are right in... 20th March 2012 · 1 min read
US Housing Market Data Response Housing Starts (Feb.) The slight fall in housing starts in February leaves the recent upward trend broadly intact. Housing starts should rise further later this year on the back of continued employment growth and an... 20th March 2012 · 1 min read
