US Housing Market Data Response Mortgage Applications (Jul.) The latest mortgage applications data provide further evidence that record low mortgage rates are doing little to boost demand among mortgage-dependent buyers. Meanwhile, the FHFA has reaffirmed its... 1st August 2012 · 1 min read
UK Housing Market Data Response Nationwide House Prices (July 12) A further month of house price falls provides more evidence that the market maybe shifting from a flat to a downwards trend. Although a clear picture of widespread house prices declines is yet to... 1st August 2012 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (May) The fourth successive rise in the Case-Shiller measure of seasonally-adjusted house prices means that prices are experiencing more than just their usual seasonal lift. Moreover, tight supply... 31st July 2012 · 1 min read
Canada Data Response GDP by Industry (May) The modest 0.1% m/m increase in Canada's monthly GDP in May supports our existing estimate that the economy expanded at a disappointing 1.7% annualised pace in the second quarter. That would mark the... 31st July 2012 · 1 min read
UK Housing Market Data Response Mortgage Lending (June) Even allowing for the potentially negative impact of the Jubilee Holiday and the bad weather, June’s mortgage lending data were undeniably weak. Unfortunately, the poor economic backdrop argues that a... 30th July 2012 · 1 min read
US Housing Market Data Response Homeownership & Vacancy Rates (Q2 12) The very modest increase in the homeownership rate in Q2 does not persuade us to alter our view that the share of the population who own their home will fall further over the next couple of years... 27th July 2012 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (June) House prices rose far more slowly in the second quarter than in the first. Thus the upswing in the Land Registry measure of house price inflation is likely to be reversed before long. 27th July 2012 · 1 min read
US Housing Market Update Are lower mortgage rates supporting housing demand? News of mortgage rates falling to fresh lows may have become an almost weekly occurrence, but there’s relatively little evidence that this is translating into stronger housing demand among mortgage... 26th July 2012 · 1 min read
Canada Economics Update Is the housing market enjoying a soft landing? Housing activity is cooling and if this trend continues, as we expect, the typical lag times between activity and prices suggest that house prices might begin to decline outright next year. Given the... 25th July 2012 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (June) June’s slump in mortgage approvals may well have been exaggerated by the Diamond Jubilee celebrations at the start of the month. Even so, with approvals at their lowest level since January 2009, it... 24th July 2012 · 1 min read
UK Housing Market Update The other house price divide: new vs. existing house prices The recent outperformance by new-build house prices reflects two factors. First, the increasing use of sales incentives by housebuilders, and second, catch-up growth following a period of... 20th July 2012 · 1 min read
US Housing Market Data Response Existing Home Sales (Jun.) The steep drop in existing home sales in June is clearly disappointing, but we always expected the housing recovery to be choppy and today’s release is consistent with that. In any case, given that... 19th July 2012 · 1 min read
Middle East & North Africa Chart Pack Price pressures have eased across the Middle East Inflation pressures are easing in most countries in the Middle East and North Africa region. The drop in global commodity prices has led to a fall in food price inflation across the region. Meanwhile... 19th July 2012 · 1 min read
Japan Chart Pack Recovery on hold as economy continues to slow The Japanese economy continued to slow throughout the second quarter and businesses expect only an anaemic recovery in Q3. The economy remains reliant on government support, with reconstruction... 19th July 2012 · 1 min read
China Chart Pack Labour market health belies talk of hard landing China’s economy is growing at one of the slowest rates in years but the labour market is showing few signs of strain. Migrant wages were up 13% y/y last quarter. There are still more jobs being... 19th July 2012 · 1 min read
UK Economics Update Regional Monitor (Jul.) The latest regional figures show that the economic recovery in the Midlands has lost considerable pace. Meanwhile, although the official figures show that employment has continued to grow in most of... 18th July 2012 · 1 min read
