UK Housing Market Data Response Mortgage Lending (Dec.) In contrast to the earlier BBA data, the Bank of England reported a rise in approvals for house purchase in December. With mortgage rates at record lows, and consumer confidence at seven-year highs... 30th January 2015 · 1 min read
US Housing Market Data Response Homeownership and Vacancy Rates (Q4) The homeownership rate fell again at the end of last year, but the decade-long decline in the share of the population who own their home may now be drawing to an end. In the meantime, however, supply... 29th January 2015 · 1 min read
US Housing Market Update Next refinancing boom won’t be as big as the last The recent decline in mortgage interest rates will trigger a refinancing boom that will span the first half of 2015. But it will be more modest than the one in 2012, and the benefits in terms of lower... 29th January 2015 · 1 min read
UK Housing Market Data Response Nationwide (Jan.) & Land Registry (Dec.) House Prices House price growth was stable in the first month of 2015, as a fall in housing demand has been matched by limited supply. But there are signs that demand has picked-up recently, and we expect gains... 29th January 2015 · 1 min read
US Housing Market Data Response Case-Shiller Prices & New Home Sales (Nov./Dec.) The strong rise in new home sales in December, which followed an encouraging gain in existing home sales in the same month, means that housing market supply conditions are tightening. That’s putting... 27th January 2015 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Dec.) The number of mortgages approved for house purchase dipped again in December, and ended the year 28% lower than the beginning. But record low mortgage rates, the reforms to stamp duty, the return of... 27th January 2015 · 1 min read
Commodities Update Outlook for US homebuilding is positive for lumber Stronger economic growth in the US and rising wages should provide a platform for a rebound in the number of housing starts this year, boosting the price of lumber. 26th January 2015 · 1 min read
US Housing Market Data Response Housing Starts (Dec.) The rise in housing starts in December, as well as the upward revisions to the previous two months’ data, suggests that homebuilding was gathering momentum in the closing stages of 2014. The latest... 21st January 2015 · 1 min read
Global Economic Outlook Oiling the wheels Global growth has slowed in recent months, but we still expect world GDP to expand by just over 3% this year and next. The slump in oil prices should have a positive impact overall, even though it... 21st January 2015 · 1 min read
UK Housing Market Outlook House prices to receive boost from stamp duty reform Housing market activity dropped sharply in the second half of 2014 as fears of a rise in interest rates, high housing valuations and a lack of stock on the market constrained demand. But several... 21st January 2015 · 1 min read
Latin America Economics Update Brazil’s housing market starting to cool Good news remains thin on the ground in Brazil, but we take some comfort from the fact that the country’s frothy housing market has so far managed to avoid a hard landing. It’s still early days, but... 20th January 2015 · 1 min read
Europe Economic Outlook Crisis 2.0? The onset of deflation in the euro-zone and the recent developments in Greece have served as powerful reminders of the lasting effects of the region’s debt crisis. The ECB will seek to tackle... 20th January 2015 · 1 min read
US Housing Market Update What next for mortgage interest rates? The decline in long-term Treasury yields almost certainly means that 30-year mortgage interest rates have further to fall and that any subsequent rises will be more gradual than we previously... 20th January 2015 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Dec.) While housing demand fell once again in December, the final RICS survey of 2014 reported that surveyors were hopeful that the reforms to stamp duty will boost both housing market activity and prices... 15th January 2015 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Dec.) Although the Teranet-National Bank measure shows house price inflation slowing slightly to 4.9% in December, from 5.2%, price gains are still outpacing growth in household incomes. The upshot is that... 14th January 2015 · 1 min read
US Housing Market Update How will lower oil prices affect housing? If production and employment are scaled back, housing markets in some oil-producing States, which have recently been among the most buoyant, could potentially suffer. But any drag that this may... 12th January 2015 · 1 min read
