US Housing Market Data Response New Home Sales (Dec.) New home sales followed in the path of existing sales by surging 10.8% in the final month of the year. But while the jump in existing sales was due to volatility caused by TRID, the rise in new home... 27th January 2016 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Jan.) & BBA Mortgage Lending (Dec.) Nationwide recorded slower house price growth in January, while BBA mortgage approvals for house purchase fell for a second consecutive month. But if many buy to let landlords rush to transact before... 27th January 2016 · 1 min read
US Economics Weekly Slowdown in GDP growth unlikely to be sustained Our calculations indicate that fourth-quarter GDP growth slowed to only 1.0% annualised, largely thanks to a more modest 2.0% gain in consumption. The latter is hard to square with the continued... 22nd January 2016 · 1 min read
US Housing Market Data Response Existing Home Sales (Dec.) Existing home sales rebounded in style in December – recording their largest month-on-month gain since records began in 1968. The jump was due to the introduction of TRID disclosure rules in early... 22nd January 2016 · 1 min read
UK Housing Market Update How will prime central London perform in 2016? Falling oil prices and growing uncertainty about the global economic outlook point to a lacklustre year for prime central London housing. Indeed, having already slowed sharply, prices in the most... 22nd January 2016 · 1 min read
UK Housing Market Outlook House prices and earnings set to gradually rebalance The recent easing in buyer demand suggests house prices are approaching a ceiling. We envisage house price inflation falling to 2% in 2016 and 2017 – giving wages a chance to start catching up with... 15th January 2016 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Dec.) House price inflation rose slightly to a four-year high of 6.2% in December, from 6.1%, but the home-sales-to-listings ratio indicates that this is close to the peak. 13th January 2016 · 1 min read
US Housing Market Update How disruptive have the TRID regulations been? The introduction of the TRID disclosure rules in October increased the time a mortgage takes to close by a small amount, which will have delayed some home sales. But the evidence does not support... 12th January 2016 · 1 min read
UK Housing Market Focus How strong are competitive forces in the mortgage market? Competitive forces in the mortgage market have strengthened over the past year. But some types of borrowers have benefitted far more than others. In particular, pricing data show that competition to... 12th January 2016 · 1 min read
US Housing Market Chart Pack Housing market well placed to withstand Fed hike The housing market should be able to withstand the first rise in interest rates for nine years. Mortgage applications for home purchase in December were at their highest level in almost six years. And... 11th January 2016 · 1 min read
UK Housing Market Update Will 2016 see a sharp correction in house prices? We believe that UK house prices are fundamentally too high. But unless the economy lapses back into recession, triggering a spike in forced selling, a real terms correction, in which prices rise more... 11th January 2016 · 1 min read
UK Housing Market Data Response Halifax House Prices (Dec.) Today’s data from the Halifax revealed a slight pick up in house price growth during December. But with house prices already high and growing much faster than wages, we expect price growth to slow... 7th January 2016 · 1 min read
Australia & New Zealand Data Response Australia International Trade & Building Approvals (Nov.) November’s international trade and building approvals figures show that two important supports of the economy softened towards the end of last year. This reinforces our view that GDP growth in the... 7th January 2016 · 1 min read
US Housing Market Data Response Mortgage Applications (Dec.) The collapse in refinancing activity in the final week of 2015 looks to reflect seasonal issues, rather than a reaction to the Fed hiking interest rates. Indeed, applications for home purchase held up... 6th January 2016 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Nov.) House price growth is accelerating as a rise in demand has combined with low inventory levels to boost sellers’ bargaining power. Increases in interest rates will act to cool the market to some extent... 5th January 2016 · 1 min read
UK Housing Market Data Response Mortgage Lending (Nov.) Mortgage approvals for house purchase picked up in November. But the shortage of homes for sale is likely to act as a brake on transactions. Consequently, we think that mortgage lending will continue... 4th January 2016 · 1 min read
