US Housing Market Chart Pack Record low inventory brings sales back to earth Mortgage rates rose further in March, with the 30-year rate now up 50bps compared to the start of the year. Recent stability in the 10-year Treasury yield means mortgage rates are likely to move... 9th April 2021 · 9 mins read
US Housing Market Chart Pack Jump in mortgage rates hits housing demand Rising mortgage interest rates are starting to bring housing demand down from its recent elevated level. At 3.26% in the first week of March, mortgage rates were at an eight-month high. Coupled with... 11th March 2021 · 9 mins read
US Housing Market Chart Pack Rising mortgage rates to temper demand Mortgage rates rose to a 12-week high in the first week February, and a further rise in the 10-year Treasury yield to 1.5% means they will increase to around 3.2% by the end of the year. Alongside... 12th February 2021 · 9 mins read
US Housing Market Chart Pack Home sales to cool as affordability worsens House price growth surged to 8.4% y/y in October, as booming home sales have combined with record low inventory to boost values. But that rise in prices has already offset the improvement to... 15th January 2021 · 9 mins read
US Housing Market Chart Pack Boom in house price growth will prove short-lived The surge in home sales looks to be running out of steam. The pending home sales index dropped back in September and October, and that points to a fall in existing home sales in November. With pent-up... 9th December 2020 · 8 mins read
US Housing Market Chart Pack Rise in mortgage rates will temper housing demand The 30-year mortgage rate fell below 3% last week, but we doubt it will stay there for long. A rise in 10-year Treasury yields means mortgage rates will soon tick-up. That will weigh on housing demand... 12th November 2020 · 8 mins read
US Housing Market Chart Pack Home sales will run out of steam soon Record low mortgage rates have continued to support home sales, with the pending homes sales index reaching its highest level since the series began in 2001. (See Chart 1.) But a rise in the 10-year... 9th October 2020 · 8 mins read
US Housing Market Chart Pack Home sales surge as rental growth slows Applications for home purchase have levelled off, but at a level 25% higher than a year ago. That is now feeding through to home sales, with the pending home sales index rising to a 15-year high in... 11th September 2020 · 8 mins read
US Housing Market Chart Pack Record low mortgage rates boost housing activity Mortgage rates have continued to fall, hitting a record low 3.14% at the end of July. Alongside the reopening of parts of the economy, and pent-up demand from the spring, that has helped home sales... 12th August 2020 · 8 mins read
US Housing Market Chart Pack Strong home demand to support sales and building After a brief pause in the second half of June, record low mortgage rates helped push applications for home purchase to an 11-year high in the first week of July. That will help reverse the earlier... 9th July 2020 · 9 mins read
US Housing Market Chart Pack Home purchase mortgage applications surge By the end of May, mortgage applications for home purchase had fully reversed their earlier drop. New home sales have also performed better than expected, with a surprise month-on-month rise in April... 9th June 2020 · 9 mins read
US Housing Market Chart Pack Sales heading to record lows The impact of the coronavirus is showing up in housing market activity. Pending home sales plummeted 21% m/m in March, which points to existing home sales falling to just over 4m annualised in April... 12th May 2020 · 9 mins read
US Housing Market Chart Pack Housing demand to collapse as virus takes hold The coronavirus will cause a severe contraction in housing market activity. Mortgage applications for home purchase have already seen a 33% drop from their peak in late January. A surge in... 7th April 2020 · 8 mins read
US Housing Market Chart Pack Coronavirus to weigh on housing market activity With growing evidence that the coronavirus is turning into a pandemic, a hit to housing market activity is inevitable. No hard numbers have been released yet, but home sales are vulnerable to any... 10th March 2020 · 9 mins read
US Housing Market Chart Pack Rental vacancy rates set for a small rise in 2020 A decline in apartment completions helped keep rental vacancy rates low over the latter part of 2019. But strong multifamily starts over the past couple of years suggest completions will pick-up in... 11th February 2020 · 8 mins read
US Housing Market Chart Pack Single-family housing starts set for another strong year The 30-year mortgage rate ended 2019 at close to 4%, and it is set to stay at around that level over the next or so. But tighter credit conditions will offset some of the benefit of lower rates on... 14th January 2020 · 8 mins read
