UK Housing Market Data Response Halifax House Prices (Oct.) Data from Halifax point to house prices stagnating in the third quarter. That echoes the broad picture outlined by other indices that, while house price growth slowed in the wake of the referendum... 7th November 2016 · 1 min read
UK Housing Market Chart Pack Housing market activity gradually recovering The latest data show a housing market that is on the way to recovering from a brief post-referendum slowdown. Yet the tightness in active supply conditions looks set to persist, house prices are still... 3rd November 2016 · 1 min read
US Housing Market Update Era of ultra-low mortgage rates drawing to a close The Fed looks set to hike the fed funds rate in December, heralding the end of the period of ultra-low mortgage interest rates which has persisted since 2010. We expect 30-year mortgage rates to rise... 3rd November 2016 · 1 min read
US Housing Market Data Response Mortgage Applications (Oct.) A rise in mortgage rates led a drop in refinancing activity in October, and a lack of housing inventory pushed applications for home purchase to their lowest level since the start of the year. With... 2nd November 2016 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Oct.) September’s construction PMI rose marginally; a pleasant surprise given the consensus among forecasters was for a fall. The rise was driven by the commercial sub-index, although the sector’s PMI is... 2nd November 2016 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Oct.) House prices held flat in October, while the annual rate of growth decelerated to 4.6%. Other data suggest that buyers are now starting to return to the market following the Brexit shock. But with... 2nd November 2016 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Sep.) After seasonal adjustment, house prices on the Core-Logic measure jumped by 1.4% m/m in September. That reading will almost certainly be revised down next month, but even so it is clear that house... 1st November 2016 · 1 min read
UK Housing Market Data Response Mortgage Lending (Sep.) • Mortgage approvals for house purchase rose for the first time in four months in September, echoing last week’s message from the BBA data that the fall in mortgage lending has bottomed out. 31st October 2016 · 1 min read
US Housing Market Data Response Homeownership & Vacancy Rates (Q3) The drop in the homeownership rate in the second quarter was reversed in the third, as a favourable economic backdrop allowed for a gradual rise in first-time buyers. As a result, the number of rental... 27th October 2016 · 1 min read
US Housing Market Focus Explaining recent developments in housing equity withdrawal Our estimate of housing equity withdrawal (HEW) shows that, in aggregate, households have yet to return to using their homes as a piggy bank. While the factors holding HEW back are likely to ease the... 26th October 2016 · 1 min read
US Housing Market Data Response New Home Sales (Sep.) The small 3.1% m/m rise in new home sales in September comes after a significant downward revision to August’s reading, highlighting that low inventory levels are preventing any sustained rise in... 26th October 2016 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Sep. 16) Mortgage approvals rose for house purchase rose the first time in four months, suggesting that the recent fall in mortgage lending has bottomed out. That said, with the economic backdrop set to be... 26th October 2016 · 1 min read
US Data Response Conference Board Consumer Confidence (Oct. 16) Despite the decline in the Conference Board index of consumer confidence in October, it is still at a level consistent with annualised consumption growth of more than 2.5%. Furthermore, given that the... 25th October 2016 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Aug.) The 0.6% m/m gain in house prices on the Case-Shiller measure in August was the largest for 10-months. Given very tight market conditions, that acceleration was expected, and further house price gains... 25th October 2016 · 1 min read
India Chart Pack Core price pressures remain elevated Much of the focus both before and after the RBI’s decision to cut the repo rate by 25bp (to 6.25%) in early October has been on the sharp fall in headline inflation over the past couple of months. But... 25th October 2016 · 1 min read
UK Housing Market Update How much cheaper can high LTV lending get? Our calculations suggest that there is plenty of room for competitive pressures to narrow the spread between high LTV and mainstream mortgages. That said, with banks looking cautious ahead of Brexit... 24th October 2016 · 1 min read
