Tuesday, Apr 27, 2010
Not as rosy as the BBC headline suggests
BBC: Mortgage lending in steady rise according to banks
Mortgage lending rose slightly in March but borrowers continued to pay off loans and overdrafts, according to the major UK banks. The number of mortgages approved for house purchases stood at 34,905 in March, up 5% on the previous month, the British Bankers' Association said. The group added that low interest rates continued to affect consumer behaviour. Credit card use has increased, but the typical amount spent in every transaction fell, the figures showed.
Posted by jack c @ 11:02 AM (753 views) Add Comment
1 Comment
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1. 51ck-6-51x said...
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There has been some evidence of the traditional spring bounce in the housing market in recent weeks with estate agents and surveyors reporting a big rise in the number of people putting their homes up for sale.
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Hang on, I thought the spring bounce was evident in a rise in sold prices, not in an increase in prospective sellers. Surely any self-respecting editor would remove this tosh?