Thursday, Dec 10, 2009
Big shift to tracker mortgages
CML: Loans for house purchase at their highest for nearly two years
55,300 mortgages were granted to buyers, the highest number since December 2007
Posted by cynicalsoothsayer @ 10:37 AM (673 views) Add Comment
2 Comments
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1. inbreda said...
"Tracker mortgages, however, are on the rise with 21% of all new loans being trackers"
Oh dear. Oh dear, oh dear. People really are stupid aren't they. At most their mortgages will decrease by 0.5%, however, the potential increase is unlimited.
21%.
This means that even if house prices fall in the post election public sector cuts and tax rises, there ain't no way I'm buying a house until interest rates rise and this 21% of complete idiots are shaken out (/down). This is where the real falls will come from.
2. Neil B said...
Err, thats not a particularly impressive claim - the average number of mortgages granted over the last 30 years 800,000 / year