US Housing Market Rapid Response US Mortgage Applications (Apr. 2024) The small rebound in mortgage demand in March proved short-lived, as higher borrowing costs caused home purchase mortgage applications to drop 2.3% m/m in April. But the 10-year Treasury yield’s... 8th May 2024 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Feb. 2024) The substantial shortage of existing homes for sale fueled a robust 0.4% m/m rise in house prices in February, consistent with our above-consensus call that house price growth will end 2024 at 5% y/y. 30th April 2024 · 2 mins read
US Housing Market Rapid Response US New Home Sales (Mar. 2024) The large uptick in new home sales in March is consistent with our above-consensus prediction that sales of new homes will climb to 750,000 by year end. 23rd April 2024 · 2 mins read
US Housing Market Rapid Response US Existing Home Sales (Mar. 2024) The fall in existing home sales in March was triggered by mortgage rates climbing back above 7% the month before. Even so, transactions remain above the trough at the end of last year, consistent with... 18th April 2024 · 2 mins read
US Housing Market Rapid Response US Housing Starts (Mar. 2024) Housing starts weren’t able to build on the strong performance of the previous month in March, falling by the largest monthly amount since April 2020 in the early days of the pandemic. Although some... 16th April 2024 · 2 mins read
US Housing Market Rapid Response US Mortgage Applications (Mar. 2024) Mortgage rates dipping back below 7% helped mortgage applications for home purchase edge slightly higher in March. But recent increases in the 10-year Treasury yield point to mortgage rates climbing... 3rd April 2024 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Jan. 2024) The fairly large gain in house prices in January points to a rebound in price growth driven by the fall in mortgage rates towards the end of last year. Although its early in the year, today’s data fit... 26th March 2024 · 3 mins read
US Housing Market Rapid Response US New Home Sales (Feb. 2024) February’s tiny drop in new home sales cut short what appeared to be the beginning of a recovery in recent months. Even though the drop was extremely small, it still potentially casts some doubt over... 25th March 2024 · 2 mins read
US Housing Market Rapid Response US Existing Home Sales (Feb. 2024) Existing home sales rose in February which we think largely reflects the sharp fall in mortgage rates at the end of last year. But borrowing costs have been rising so far in 2024, which in the near... 21st March 2024 · 2 mins read
US Housing Market Rapid Response US Housing Starts (Feb. 2024) The strong rebound in housing starts last month confirmed January’s slump was a weather-related blip. Although we expected starts to bounce back, February’s data were even stronger than we had... 19th March 2024 · 2 mins read
US Housing Market Rapid Response US Mortgage Applications (Feb. 2024) February’s mortgage applications data show rising mortgage rates put an end to what had been the start of a fairly promising recovery, following the low for applications in October 2023. We think this... 6th March 2024 · 3 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Dec. 2023) Another small rise in house prices in December suggests the extremely backward-looking data are still capturing a slowdown in price growth following the October peak in mortgage rates. That’s mainly... 27th February 2024 · 2 mins read
US Housing Market Rapid Response US New Home Sales (Jan. 2024) The sharp fall in mortgage rates at the end of last year helped new home sales regain some more momentum in January. But so far the rebound has been slightly slower than we were anticipating. Looking... 26th February 2024 · 2 mins read
US Housing Market Rapid Response US Existing Home Sales (Jan. 2024) The sharp fall in mortgage rates at the end of last year was the catalyst for existing home sales rising in January. But borrowing costs have risen again in recent weeks, which in the near term... 22nd February 2024 · 2 mins read
US Housing Market Rapid Response Housing Starts (Jan. 2024) Housing starts fell by the largest amount since April 2020 in January, led by a huge drop in multi-family starts. We suspect the multi-family sector will continue to be a drag on new development this... 16th February 2024 · 3 mins read
US Housing Market Rapid Response Mortgage Applications (Jan. 2024) The average mortgage rate in January was unchanged from the month before, but that didn’t prevent mortgage applications for home purchase rising for a third consecutive month. And with interest rates... 7th February 2024 · 2 mins read
