US Housing Market Data Response Case-Shiller House Prices (Sep.) The strong monthly rise in house prices reported by Case-Shiller for September is not a sign that house price growth is accelerating. Indeed, weakening buyer sentiment and house price expectations... 28th November 2017 · 1 min read
Nordic & Swiss Economics Update Swedish house prices to stabilise next year We think that concerns about the Swedish housing market are overblown. While house prices are likely to edge down further in the coming months, we expect them to stabilise next year. 24th November 2017 · 1 min read
UK Housing Market Data Response UK Finance Mortgage Lending (Oct.) House purchase mortgage approvals fell back in October. But the data show that remortgaging surged, as existing borrowers rushed to lock in record low rates ahead of November’s rate rise. 24th November 2017 · 1 min read
India Chart Pack Bank recapitalisation pushes equities to fresh highs The surge in Indian equities since the start of the year has continued over the past month, with the benchmark Sensex stock index hitting an all-time high in early November. The latest leg up has been... 22nd November 2017 · 1 min read
US Housing Market Data Response Housing Starts (Oct.) After falling for three months in a row, the 13.7% m/m rise in housing starts in October is welcome news. Admittedly, much of the rise was driven by the very volatile multifamily sector, which is... 17th November 2017 · 1 min read
Japan Economics Weekly Is monetary easing doing more harm than good? Some commentators are arguing that the costs of continued loose monetary policy outweigh the benefits as house and stock prices have soared and banks’ lending margins have slumped. By contrast, we... 17th November 2017 · 1 min read
Nordic & Swiss Chart Pack Nordic house price inflation slowing House price inflation in several Nordic economies is slowing, and in some cases sharply. In Sweden housing inflation fell to 6.7% in October, its slowest in four years. And in Stockholm, where prices... 16th November 2017 · 1 min read
UK Housing Market Update What does the median transaction price tell us? The low interest rate environment has driven buyers to purchase more expensive kinds of homes than they would have done 10 years ago. That helps to explain why buyer leverage is higher than 10 years... 16th November 2017 · 1 min read
Japan Chart Pack Will the Nikkei continue to outperform? The Nikkei is near its highest in 25 years, buoyed by a 200% rise in net profits since PM Abe returned to power five years ago. Looking ahead, we expect the yen to weaken to 120 by the end of next... 16th November 2017 · 1 min read
US Housing Market Focus How tight are mortgage lending standards? Smaller down payments and rising debt-to-income ratios might be an indication that mortgage lending standards are once again being relaxed to dangerous levels. But the Ability to Repay rule is... 15th November 2017 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Oct.) The decline in the national composite house price index in October led to a further slowdown in the annual rate of house price inflation to 10.0%, from 11.4%. The recent slump in home sales, increases... 15th November 2017 · 1 min read
UK Housing Market Data Response UK House Price Index (Sep.) House price inflation accelerated in September. But initial estimates on the official index tend to be revised down in later months. And with house prices high, as well as few signs of a revival in... 14th November 2017 · 1 min read
China Data Response Activity & Spending (Oct.) While official figures show a small deceleration in industrial output growth last month, our own measure points to a much shaper decline. Meanwhile, the are signs in the rest of today’s data that the... 14th November 2017 · 1 min read
US Housing Market Update Annual house price growth has peaked The rise in annual house price growth to a three-year high of 6.1% in August raises the prospect that our forecast for a 6% gain by the end of the year will prove too conservative. But, with credit... 13th November 2017 · 1 min read
Australia & New Zealand Economics Weekly A state of convergence Over the next few years we expect that the relative performance of the largest states in Australia will converge, as the mining-exposed states of Queensland and Western Australia benefit most from the... 10th November 2017 · 1 min read
US Housing Market Chart Pack Higher mortgage rates and lack of stock hits activity Mortgage interest rate are rising gradually which, coupled with a lack of inventory, has meant mortgage applications for home purchase resumed their downward trend in October. That implies home sales... 8th November 2017 · 1 min read
