Matthew Pointon

The sharp fall in mortgage interest rates seen since the start of the year has not spurred much of a recovery in housing market activity, with concerns around the economic outlook growing, we doubt housing market activity will see much of a recovery in the second half of the year.

Matthew Pointon

It's not going to make a huge difference, because even if rates fall back that's just reflecting that the economy is slowing down.

Matthew Pointon

With mortgage rates set to rise over the remainder of the year, we expect house price growth will continue to slow, but record low levels of inventory will also provide support to prices, and the slowdown will be gradual.

Matthew Pointon

There is some early evidence that lumber prices may now have peaked, but the shortage of labor will not be solved so quickly, and that means housing market conditions will remain tight for the remainder of the year.

Matthew Pointon

There is every reason to expect that the demand for homes will grind higher in the coming months. While interest rates are set to rise, so are incomes, and that will keep housing affordability historically favorable.

Matthew Pointon