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14 matches for " mortgage payments":
January's money and credit data broadly support our view that the economy still lacks momentum.
Swap rates imply that markets expect RPI inflation to settle within a 3.3% to 3.5% range over the next five years, once the boost from sterling's depreciation has faded.
The mortgage market is continuing to hold up surprisingly well, given the calamitous political backdrop.
A tentative revival in mortgage lending is underway, following the lull in the four months after the MPC hiked interest rates in November.
National accounts data released last week rewrote the recent history of households' saving.
Political uncertainty is starting to dampen housing market activity again.
Consensus expectations for August's labour market data, released today, look well grounded.
Swap markets currently price-in RPI inflation falling to 3.0% this time next year, from 3.2% in November, before recovering to 3.8% at the start of 2020.
Analysis of the economy's potential to recover later this year from extreme weakness in Q2 has focussed largely on the extent to which virus-related restrictions will be lifted.
The Fed paved the way with a 50bp emergency rate cut on March 3, with more to come.
The Mortgage Lenders and Administrators Return for Q4, published on Tuesday, suggests that the fall in households' real incomes last year has not led to a deterioration in lenders' mortgage books.
Markets expect RPI inflation--which still is used to calculate index-linked gilt payments, negotiate wage settlements, and revalue excise duties--to rise to only 2.7% a year from now, from 1.6% in June. By contrast, we expect RPI inflation to leap to 3.5%. As we outlined in yesterday's Monitor which previewed today's numbers, CPI inflation likely will shoot up to 3% from 0.5% over the next year.
A casual glance at our first chart, which shows the headline and core inflation rates, might lead you to think that our fears for next year are overdone. Core inflation rose rapidly from a low of 1.6% in January 2015 to 2.3% in February this year, but since then it has bounced around a range from 2.1% to 2.3%.
June's RICS Residential Market Survey brings hope that the housing market already is over the worst.
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