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Mortgage Lending
Thursday 31st May, 2007 11:06 Comments: 0
23 April 2007: Mortgage lending is still booming

Mortgage lending is still rising strongly, says the Council of Mortgage Lenders. Total lending in March amounted to £31.3bn - 10% higher than a year ago and another monthly record. The continued strong lending has come despite three rises in interest rates since last summer.

5 weeks later...

Thursday, 31 May 2007: Mortgage lending dips to year low

New mortgage lending in the UK fell to 12-month lows in April, Bank of England figures show. Mortgage approvals totalled 107,000 down from 111,000 in March - the third monthly decline in a row. The data also hinted the market may be slowing as the value of home loans rose £8.9bn, compared with £9.9bn in March.

I can't help think that the statistics are fairly meaningless, and that they're being abused to create "interesting" stories by the media.
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