Monday, Apr 30, 2007
Has mortgage demand peaked?
Firstrung: Higher interest rates are influencing mortgage borrowing - BBA
March figures for high street banks show that mortgage demand may be weakening in the face of rising interest rates. Marchs gross mortgage lending was £18.6bn, 5% more than £17.7bn in March 2006. There were 198,000 mortgages approved (for all purposes) in March; some 8% lower than in March 2006, with an aggregate value of £22.3bn. The average loan approved for house purchase was £150,800, some 12% higher than a year earlier.
Posted by converted lurker @ 11:32 AM (29 views) Add Comment
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