Thursday, Sep 27, 2007
Mortgage lending drops sharply v August 2006
Firstrung: Mortgage approvals for house purchases fall by 14% - BBA
Mortgage Lending: When compared to August 2006, house purchase approvals were down 14% by number and 7% by value; remortgaging approvals were up 4% by number and up 11% by value; while approvals for equity withdrawal were down 16% by number and down 9% by value.
Posted by converted lurker @ 11:33 AM (358 views) Add Comment
2 Comments
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1. inbreda said...
This is V interesting.
purchases are going down. Only "rich" people are buying i.e. people selling one house to buy another, perhaps for a job move. new buyers I would imagine are disappearing. But people are struggling with their mortgage and having to MEW.
Doomed!
2. dohousescrashinthewoods said...
Interesting indeed - less people are MEWing, but for more.