Australia & New Zealand Economics Weekly How much will housing help? After contributing 0.5 percentage points to the annual rate of GDP growth in Australia in each of the past two years, it looks as though dwellings investment will add almost nothing to growth this... 13th January 2017 · 1 min read
US Housing Market Update Cut in FHA mortgage insurance costs will support house prices The 25bps cut to the annual insurance premiums for mortgages backed by the FHA will offset some of the recent rise in mortgage rates. But with inventory levels very low, the primary impact of any... 11th January 2017 · 1 min read
US Housing Market Chart Pack House price growth on the rise Housing demand was given a short-term boost following Trump’s win, as some buyers brought forward a planned purchase in order to secure a low mortgage rate before they increased further. But with the... 9th January 2017 · 1 min read
UK Housing Market Data Response Halifax House Prices (Dec.) The Halifax report that house prices finished 2016 strongly. In spite of that, the big picture remains that house price growth is significantly weaker than it has been over recent years. 9th January 2017 · 1 min read
UK Housing Market Chart Pack House price pressures to ease further in 2017 The housing market is shaping up for a subdued year in 2017. If we are right that the economy will continue to surprise on the upside, lending and sales should make further modest gains this year. But... 5th January 2017 · 1 min read
US Housing Market Data Response Mortgage Applications (Dec.) The expectation that mortgage rates are set to continue to rise following Trump’s win helped support mortgage applications for home purchase in December. While that boost will soon subside, faster... 4th January 2017 · 1 min read
UK Economics Update Household Borrowing Monitor (Nov.) November’s household borrowing figures showed that borrowing growth remains strong, despite the Brexit vote, and that the housing market continues to regain its momentum. Admittedly, the small rise in... 4th January 2017 · 1 min read
UK Housing Market Data Response Mortgage Lending (Nov.) The revival in mortgage lending for house purchase seen since August appeared to lose much of its momentum in November. But the feared economic slowdown has yet to materialise and housing surveys... 4th January 2017 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Nov.) The recent acceleration in house prices picked up pace in November, with CoreLogic reporting that annual growth exceeded 7% for the first time since May 2014. A spike in housing demand following Trump... 3rd January 2017 · 1 min read
UK Data Response GfK/NOP Consumer Confidence (Dec.) While consumer confidence rose slightly in December, the headline balance suggests that the strong pace of retail spending won’t last too much longer. That said, low interest rates and a resilient... 22nd December 2016 · 1 min read
India Chart Pack Reform agenda takes off in 2016 2016 will be remembered as the year that Prime Minister Modi finally began to deliver on promises of much-needed economic reform. However, with a number of state elections due to take place over the... 21st December 2016 · 1 min read
UK Housing Market Update Are high income multiples on their way out? Mortgage affordability tests introduced in 2014 have effectively eliminated loans with loan-to-income multiples of 5 times or higher. As interest rates begin to normalise, affordability tests will put... 19th December 2016 · 1 min read
US Housing Market Outlook Housing market can withstand higher interest rates Trump’s win will have two offsetting impacts on the housing market. Mortgage rates have already spiked since the election and will rise further. All else equal that will depress housing demand. Yet a... 16th December 2016 · 1 min read
Canada Economics Weekly Bank of Canada downplaying housing risks While it continues to warn about growing housing imbalances and risky mortgage lending, the Bank of Canada still believes there is only a low probability of a major housing correction happening... 16th December 2016 · 1 min read
US Housing Market Data Response Housing Starts (Nov.) The 18.7% m/m drop in housing in starts in November was largely expected given the surge recorded in October. In any event, the drop was concentrated in the volatile multifamily sector. With... 16th December 2016 · 1 min read
UK Economics Chart Pack Good start to the festive season There has been no sign of a let-up in the strong pace of high-street spending growth at the start of the festive season. But it seems doubtful that spending will maintain its recent strength in the... 15th December 2016 · 1 min read
