Thursday, Nov 29, 2007
I can hear confused76 laughing
guardian: UK mortgage approvals fall sharply in Oct
British mortgage approvals for house purchase fell in October to their lowest in nearly three years and mortgage lending also slowed sharply, Bank of England data showed on Thursday.
Posted by inbreda @ 07:54 AM (528 views) Add Comment
6 Comments
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1. little professor said...
In October there were 88,000 new mortgage approvals, down from 100,000 in September and 128,000 a year ago, the Bank of England said.
Mortgage approvals are down 31% from a year ago.
2. Sold My Soul To The Never Never Never said...
Consumer debt increased last month? I wonder if they are borrowing to pay off the mortgage!
3. This comment has been removed as it was found to be in breach of our Blog Policies.
4. confused76 said...
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5. Mark said...
Perhaps the best evidence of the credit crunch is that the average mortgage for house purchase in Oct was just £138.8k, compared with £147.9k over the previous 6 months according to the BoE stats. Remortgage size seems stable for now. Meantime, buyers are having to fund larger deposits - which will knock significant numbers of potential buyers out of the market. Expect these trends to continue and become self reinforcing, and to apply downward pressure on prices.
6. (cr)ash said...
"In October there were 88,000 new mortgage approvals"
So you can get every single person who took out a mortgage in October for the ENTIRE COUNTRY in the new Wembley Stadium and still have spare seats?! (it holds 90k)