Tuesday, Apr 24, 2007
Lending figures reflact final last minute rush to lock in rates
The Mirror: HOMES 'COOL'
THE white-hot housing market could finally be starting to cool down - but it could be too late to stop another interest rate rise next month.
Mortgage lending set a new March peak of £31billion, according to the Council of Mortgage Lenders - 10 per cent up on a year ago.
But experts say this reflected a rush to remortgage before fixed-rate deals got more expensive.
"There are clear signs the housing market may finally be coming off the boil as higher interest rates and spiralling house prices squeeze new buyers out of the market," said Howard Archer, chief economist at Global Insight.
But economists are still predicting a rise to 5.5 per cent when the Bank of England meets next week.
Posted by cash_buyer @ 01:12 PM (129 views) Add Comment
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