US Housing Market Update Robo-signing settlement doesn't change the big picture News that the $25bn robo-signing settlement has been finalised is good for those homeowners who will benefit from the principal reductions and refinancing schemes that form part of the deal. But the... 9th February 2012 · 1 min read
US Housing Market Update REO to rental programme could be the best housing fix so far Among the myriad of programmes rolled out to help the housing market, the proposal to sell the government’s stock of real estate owned homes to rental investors could just be the most effective yet. 6th February 2012 · 1 min read
US Economics Update Fed's anticipates that rates are on hold until late 2014 The publication today of the first set of interest rate projections by the FOMC heralded a historic change in the way that the Fed conducts monetary policy, but had little practical impact on market... 25th January 2012 · 1 min read
US Housing Market Update Obama retunes his HARP President Obama’s latest proposal to help more households refinance to a lower mortgage rate is another policy that tinkers at the margins rather than striking at the heart of the problems that are... 25th January 2012 · 1 min read
US Housing Market Update Robo-signing settlement will not be a game-changer Whether or not President Obama uses tonight’s State of the Union Address to announce a final resolution to the robo-signing fiasco, it would appear that an agreement is close at hand. The good news is... 24th January 2012 · 1 min read
US Housing Market Update Early signs that mortgage credit conditions are loosening Credit conditions in the US have stopped tightening and there are signs that they are now loosening. We expect this to continue, supporting home sales and putting a floor under house prices. But any... 19th January 2012 · 1 min read
US Housing Market Update Clash between Fed and Congress to limit action on housing Policymakers just can’t decide what to do with housing. While the Fed thinks that government funds should be used to support housing, Congress appears to believe that housing should be used to support... 11th January 2012 · 1 min read
US Housing Market Update The end of the US housing downturn 2012 may well be the year in which the five-year-long decline in US house prices ends. But that doesn’t mean it will also be the year in which prices start to rise consistently. Tough credit... 4th January 2012 · 1 min read
US Economics Update Fed stands pat for now The Fed put off making changes to its communications strategy and potentially announcing a third round of quantitative easing until the new year. 13th December 2011 · 1 min read
US Housing Market Update Shadow inventory to keep supply high for foreseeable future Estimates of the shadow inventory vary, but by our calculations more than four million homes are waiting in the wings and will eventually add to the supply of properties for sale. That will prevent a... 8th November 2011 · 1 min read
US Economics Update Fed in wait and see mode The Fed opted to stay on the sidelines today. Most probably because FOMC members want more time to judge how effective the Operation Twist programme announced at the last meeting in September has been... 2nd November 2011 · 1 min read
US Housing Market Update Low demand constraining sales, not low supply Recent suggestions that home sales are being held back by a lack of inventory are misguided as the excess inventory may still amount to one million homes. Moreover, the "shadow inventory" may consist... 18th October 2011 · 1 min read
US Housing Market Update Households less willing and less able to buy Recent evidence showing that fewer Americans see owning a home as a central part of the American Dream and that fewer have a credit score high enough to make that dream a reality supports our long... 5th October 2011 · 1 min read
US Economics Update Fed action will do little to boost economy Operation Twist is a go, albeit with a small twist on the twist. The Fed's announcement today that it will act to extend the average maturity of its Treasury holdings, by buying $400bn of securities... 22nd September 2011 · 1 min read
US Housing Market Update Widening refinancing scheme won't help much Any changes to the Administration's current program that would allow more households to refinance their mortgage at a lower rate would be welcome. But such moves won't provide a major boost to the... 16th September 2011 · 1 min read
US Housing Market Update FHFA's new house price index still falls short The FHFA's new "expanded-data" house price index is better than its other indices as it includes some purchases made with cash and non-conforming loans. However, as it is still a less comprehensive... 7th September 2011 · 1 min read
