Thursday, Mar 29, 2007
Another example of VI spin!
Reuters: UK Feb mortgage lending growth picks up unexpectedly
Mortgage numbers look good when compared to expected numbers rather than last year's!
British mortgage lending growth accelerated unexpectedly in February and home loan approvals also beat forecasts, suggesting the housing market is holding up despite three interest rate rises since last August.
The Bank of England said on Thursday that mortgage lending rose by 10.256 billion pounds in February, up from 9.520 billion the month before and stronger than forecasts for a 9.4 billion pound rise.
Mortgage approvals -- a leading indicator of house prices -- were also higher than expected at 119,000 last month, against forecasts for an easing to 117,000 and the same as January.
Posted by cash_buyer @ 09:50 AM (250 views) Add Comment
4 Comments
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1. p. doff said...
Market still flying in this part of North Wales. Most agents report things 'hotting up'.
We are extremely busy on valuations - sale and MEW.
I'll let you know when/if the tide turns.
TTFN
2. David20040_0 said...
Why does market activity seem to be so high when Merv says it is slowing down?
3. paul said...
Mixed signals again from Mervyn's arse and the Bank's elbow.
Mervyn King says that the housing market is slowing but then the Bak of England says that the housing market is heating up. I do wish he would start sounding like he knows what he's talking about. Mind you that's gone unnoticed for some time now.
(Regional booms are the result of a ripple effect as neighbouring towns experience rising prices going out from London. At about the same time that London's market crashes, Somersets will probably still be feeling the effects of an earlier ripple.)
4. confused76 said...
I think there are very many "indicators" flying around and it is not simple to understand where the market is going.
Even the UK average house sales price (which should be a single number) has values ranging from £178k to 220k!