Tuesday, Feb 27, 2007
BBC
BBC: Mortgage approvals fall at banks
Mortgage approvals by the UK's biggest banks dipped slightly in January, said the British Bankers' Association (BBA).
The underlying number of mortgages approved for house purchase last month was 44,804, a fall of 1% from the figures from a year earlier.
"It was notable that underlying mortgage approvals were down by around 1% year-on-year in number in January," said Howard Archer of Global Insight.
"This was the second successive month that approvals were down year-on-year, and contrasts with the substantial year-on-year increases seen through much of 2006."
Posted by cash_buyer @ 12:07 PM (159 views) Add Comment
4 Comments
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1. inbreda said...
Am I right in thinking that this report opens by (effectively) saying that mortgage approvals are subsiding, but despite recent interest rate rises mortgage approvals are not subsiding.
Make your minds up!!
"Actual borrowing on mortgages remains strong compared with this time last year, so the impact of higher interest rates has yet to feature."
So people drowning in debt and having to MEW against their house is a sign of a healthy housing market?
BBC are the dumbest journalists on the planet.
2. bingo said...
If you follow the link to the BBC story, there is another link directly linked to this story with the headline 'Mortgage record broken in January '. I am convinced the BBC news department is being run by incompetents.
3. inflation is eating my savings said...
Creating the bewildered herd. A standard proaganda tool. If people are confused, it is business as usual.
4. paul said...
I notice this headline is buried in their "other stories" too. I swear when the crap hits the fan someone will take them to task for talking up the market constantly over the last five years.