Wednesday, Nov 21, 2007
Where's the net figures?
Firstrung: Is the CML trying to bury bad news by only releasing gross lending mortgage figures?
CML Director General Michael Coogan commented: "The next few months will be a testing time as ongoing pressures in financial markets feed through into the wider economy. Funding constraints will continue to restrict lending activity and make loans more expensive. The Bank of England's recent Quarterly Inflation Report reinforced the likelihood of a reduction in rates early next year, and that should provide some relief for borrowers sooner rather than later."
Posted by converted lurker @ 09:37 AM (512 views) Add Comment
3 Comments
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1. waitingfor hpc said...
yeah - cos inflation is gone like ... i mean everything is cheaper right? food, fuel, energy, beer. So now inflation is under control lets drop rates to save the housing market........
2. Ilejustwait said...
just because the bank BOE may reduce intrest rates next year, this does not mean that all
lenders have to do the same, so i dont think this will make any diffrence to the
houseing market, nothing can stop this know the corection is on its way, and long waited for
3. tick tock said...
The rapid rise in inflation is now clearly evident to everyone (except Blanchflower of course).
As a result, I find it hard to believe, despite what the BOE seem to suggest, that rate cuts will be possible.
Mr. King has made several comments regarding his concern that inflation expectations seem to be rising. This,as I'm sure Mr. King knows fully well, is most likely because of people's real world encounters with rising prices everywhere (except labour)
I wouldn't be at all surprised if the 'promised' rate cuts early next year are 'pie in the sky' designed to improve the mood a little.
They'd better have a plan for Stirling if they do cut!