Wednesday, Jun 27, 2007
The BBA approved 77,443 house loans this May compared with 80,298 a year earlier, although the average house price was up 9% to £157,100.
thisismoney: Housebuilders sound rates warning
The slowdown in the housing market was laid bare today as rising interest rates put off potential buyers.
Housebuilders George Wimpey and Taylor Woodrow, which recently agreed to merge in a £2.5bn deal, warned that the growing cost of mortgages will damage business in the second half of the year.
It came as the British Bankers' Association said there were 4% fewer mortgage approvals last month than inMay 2006.
The BBA approved 77,443 house loans this May compared with 80,298 a year earlier, although the average house price was up 9% to £157,100.
Posted by john k @ 09:26 PM (124 views) Add Comment
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