Thursday, May 21, 2009
The Spring Offensive is over!
BBC: Total mortgage lending down again
The total amount of mortgage lending fell again in April, the Council of Mortgage Lenders (CML) said. The amount lent by its members stood at £10.4bn, down from £11.4bn in March, and was 60% lower than in April 2008. The CML said the drop during last month was due to a seasonal factor, with Easter falling in April this year, rather than in March a year ago. The lenders organisation played down recent suggestions that the housing market may be about to pick up.
Posted by mark wadsworth @ 10:14 AM (503 views) Add Comment
3 Comments
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1. wdbeast said...
It's funny how "seasonal factors" can always explain poor figures!
2. uncle tom said...
This is not the news that the optimists expected.
The market is too fragile and volatile to draw much of a conclusion from this data, other than to make the broad observation that talk of 'green shoots' was extremely premature...
3. pelethar said...
Interesting point about the timing of Easter, but I don't remember anyone talking about that when the April figures came out!