Monday, Oct 29, 2007
December figures should be revealing
Firstrung: Mortgage Lending falls dramatically as lenders nervously await the full impact of the 'credit crunch'
U.K. lenders approved the fewest mortgages in over two years in September as borrowing costs increased, adding to evidence the property market is slowing dramtically. These figures must be taken in the context that the September data is lower due to the affect of five interest rate increases and not as a consequence of nearly 40% less mortgage product, which has been 'stripped out' of the market due to the credit crunch turbulence which originated in the US in August
Posted by converted lurker @ 12:53 PM (383 views) Add Comment
1 Comment
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1. dohousescrashinthewoods said...
"the affect of five interest rate increases" - I guess sentiment is everything
P. Edant