China Economics Focus What impact will the rate cut have, and what happens next? We foresee two more cuts in China's benchmark lending rates by the middle of next year but not the sizeable acceleration in credit that would be needed for a substantial pick-up in GDP growth... 26th November 2014 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Sep.) The strongest month-on-month increase in house prices in seven months in September is further evidence that, after the recent slowdown, the pace of house price growth is picking up again. But while a... 25th November 2014 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Oct.) The lack of a recovery in mortgage lending reflects a sharp slowdown in housing demand. However, with mortgage rates falling to new record lows, the economy set for robust growth and uncertainty over... 25th November 2014 · 1 min read
US Housing Market Data Response Existing Home Sales (Oct.) The sixth increase in seven months took existing home sales to within a whisker of their pre-taper high in October. Existing home sales are benefitting from the decent labour market recovery and the... 20th November 2014 · 1 min read
Europe Economics Focus Will lower oil prices end Norway’s long boom? Norway has been one of the strongest growing economies of the developed world over the last decade. But with households buckling under high debt burdens and lower oil prices set to exacerbate the... 20th November 2014 · 1 min read
UK Housing Market Data Response Housebuilding (Q3) Housing starts suffered a surprise dip the third quarter. But with work in progress perceived as inadequate to meet expected demand, builders will be keen to up production. 20th November 2014 · 1 min read
US Housing Market Data Response Housing Starts (Oct.) The decline in housing starts in October was entirely driven by a fall in the volatile multi-family component. With single-family starts, building permits and homebuilder confidence all rising, the... 19th November 2014 · 1 min read
UK Housing Market Update Will the shortage of homes for sale persist? According to Rightmove, the number of homes that estate agents had for sale in November was at a record low for this time of year. However, with new home completions expected to show the first signs... 18th November 2014 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q3) Strong job creation, falling unemployment and lower mortgage interest rates all helped the downward trend in the number of US households suffering mortgage payment problems continue into the third... 14th November 2014 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Oct.) According to the RICS survey house price gains are continuing to ease as housing demand contracts. But with mortgage rates dropping to a new record low, and the strength of the jobs recovery finally... 13th November 2014 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Oct.) The Teranet-National Bank measure shows that house price inflation held at 5.4% in October, where it is likely to remain for the rest of this year. Nevertheless, the regional breakdown continues to... 12th November 2014 · 1 min read
US Housing Market Chart Pack House prices regain some poise The various measures of house prices appear to be sending different messages, but on balance it looks like price gains have picked up again following outright falls earlier in the year. The Case-... 12th November 2014 · 1 min read
Canada Chart Pack Multi-unit home building still in overdrive The unexpected decline in housing starts in October, which was driven by a sharp drop in the volatile multi-unit segment, is likely to be reversed in the coming months, reigniting concerns about... 11th November 2014 · 1 min read
UK Housing Market Data Response CML Lending Trends (2014 Q3) The growth in mortgage lending continued to slow in the third quarter according to the CML. But the MMR has not led to a sharp drop in LTI or LTV ratios, and lending should pick up once housing demand... 11th November 2014 · 1 min read
US Housing Market Update Valuation picture weighing on housing market confidence We are not convinced that September’s drop in realtor confidence will herald another large dip in home sales. But it is another reminder that housing valuations are starting to become a drag, rather... 6th November 2014 · 1 min read
UK Housing Market Data Response Halifax House Prices (Oct.) The latest Halifax house price index brought further evidence that the sharp drop in active housing demand since the turn of the year has taken much of the steam out of house prices. 6th November 2014 · 1 min read
