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.
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.