UK Economics Update Further FPC action would not undermine recovery We could finally see some policy action from the Bank of England next week – but not in the form of a tightening in monetary policy. The Financial Policy Committee (FPC) may flex its muscle by using... 27th November 2015 · 1 min read
UK Economics Focus Autumn Statement 2015: OBR digs Osborne out of a hole This was a much more benign Autumn Statement than most had anticipated. Nonetheless, the big picture is still that austerity will renew in earnest next year – although we think that the economic... 25th November 2015 · 1 min read
US Housing Market Data Response New Home Sales (Oct.) US high-yield corporate bonds have performed poorly in November amid concerns over the renewedfall in commodity prices and the prospect of tighter US monetary policy. Looking ahead, we do notthink... 25th November 2015 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Oct.) Mortgage approvals for house purchase picked up in October, providing reassurance that last month’s unexpected dip was a one-off. There are plenty of reasons to think that mortgage activity will... 25th November 2015 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Sep.) Case-Shiller reported that annual house price growth accelerated to 4.9% in September, the highest rate in more than a year. Low numbers of homes for sale mean that even a small increase in housing... 24th November 2015 · 1 min read
US Housing Market Data Response Existing Home Sales (Oct.) As expected, existing home sales contracted in October. While housing demand is being supported by a strengthening labour market and gradual easing in credit conditions, a lack of housing inventory is... 23rd November 2015 · 1 min read
Europe Economics Update Is a housing bubble inflating again in Ireland? Comments from the outgoing governor of Ireland’s central bank that he “knows” that there won’t be another housing bubble smack of hubris. While there does not appear to be a bubble in the housing... 23rd November 2015 · 1 min read
US Housing Market Update Homeownership rate has finally found a floor Our call over two years ago that the homeownership rate would see further declines has proved broadly correct. But with foreclosures now back to historical norms, and credit conditions gradually... 19th November 2015 · 1 min read
UK Housing Market Data Response Housebuilding (Q3) Housing starts recovered in Q3, reversing some of the dip in activity seen in the second quarter. But with labour shortages worsening and unemployment already close to a record low, a rapid... 19th November 2015 · 1 min read
US Housing Market Data Response Housing Starts (Oct.) October’s double-digit drop in housing starts was disappointing. But there are good reasons to believe that starts will bounce back in November. 18th November 2015 · 1 min read
UK Housing Market Update Action on buy-to-let won’t be heavy handed By the end of the year, the Government is expected to have set out new powers for the Financial Policy Committee over the buy-to-let mortgage market. But the quality of lending to that sector doesn’t... 18th November 2015 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q3) Low interest rates, falling unemployment and a reduction in the share of mortgages with negative equity all contributed to another drop in the delinquency rate in the third quarter. 17th November 2015 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Oct.) House price inflation remained at 5.6% in October and the high home sales-to-new listings ratio indicates that it might rise as high as 6.0% by the end of the year. The national average continues to... 12th November 2015 · 1 min read
US Housing Market Chart Pack Lack of inventory squeezes house prices higher Housing demand is being supported by a gradual easing in credit conditions, which helped the homeownership rate to pick-up from a 48-year low in the third quarter. But with inventory levels still very... 11th November 2015 · 1 min read
Canada Economics Weekly Even the bulls are nervous about housing now Investors who have paid attention to indicators of growing imbalances in Canada’s hot housing market over the years won’t be surprised by recent warnings of potential housing corrections from certain... 6th November 2015 · 1 min read
UK Housing Market Chart Pack Stock of homes for sale stays at record low The rate of house price growth accelerated a touch in October, in part due to the shortage of homes for sale. And while consumer confidence slipped a little on the back of weaker economic growth... 6th November 2015 · 1 min read
