Tuesday, Oct 20, 2009
Spring bounce, summer bounce, autumn bounce ...
BBC: Summer lift in mortgage lending
"Mortgage lending has shown a late summer lift compared with earlier in the year, according to the Council of Mortgage Lenders (CML). The group said that gross mortgage lending in the third quarter of the year reached £38.9bn, an 18% rise on the previous three months. Mortgage lending was up 2% in September compared with August, but still down 27% on September 2008. The CML suggested that the recent lift in lending could have hit a plateau..."
Posted by mark wadsworth @ 10:42 AM (846 views) Add Comment
6 Comments
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1. jack c said...
Spring bounce, summer bounce, autumn bounce, Winter plateau
"The CML suggested that the recent lift in lending could have hit a plateau"
2. house said...
Mark Wadsworth things have to plateau. People cannot carry on borrowing. I was talking to an estate agent yesterday and he said that prices are not going up (down from eak by 15%) but there was a shortage of properties at present ie.the right properties in my area. Also he said that a lot of purchasers were cash buyers and also investors. I cannot understand how investors can get a decent return when the banks are now offering much higher return. Do you have any idea when these cash buyers demand be satisfied. Surely there cannot be many left.
By the way, what is your profession as you provide many interesting comments.
3. mark wadsworth said...
House, I am a humble "tax advisor", in other words I do people's tax returns for them. All the other stuff I know is from observing the world around me and applying the principles I learned on my accounting and finance degree and on my law degree. And blogging far too much and talking to as many people as possible.
4. Brownsters_billions said...
I'll vouch for the supply shortage at the moment - I'm a FTP looking to pick something up around 2005 prices, but all the best houses are being snapped up quicker than you can say 'fiscal stimulus'. One that the missus thought was perfect went for above asking price (£350k) after the current vendors bought in Sep 05 for £275k. What's going on I don't know, but I do know that a bunch of places that were snapped up in Sep are starting to come back on the market...
5. smugdog said...
This great summer goes on and on and on. When will it end, if ever?
6. techieman said...
Smug : "Summer dreams ripped at the seams, bu-ut oh, those su-ummer nights...."
Tell me more tell me moorrreeerrerrr