Bruce Banner Posted September 13, 2010 Share Posted September 13, 2010 Mortgage lending for July up 7% say the CML. Quote Link to comment Share on other sites More sharing options...
richcrashman Posted September 13, 2010 Share Posted September 13, 2010 Just on BBC. July figures up 7% to 56.000 Quote Link to comment Share on other sites More sharing options...
Pent Up Posted September 13, 2010 Share Posted September 13, 2010 This always seems at odds with the BOE data. I'll wait for that before I get worried. Quote Link to comment Share on other sites More sharing options...
kilroy Posted September 13, 2010 Share Posted September 13, 2010 Just on BBC. July figures up 7% to 56.000 FTBs down 2%... Quote Link to comment Share on other sites More sharing options...
kilroy Posted September 13, 2010 Share Posted September 13, 2010 Mortgage lending for July up 7% say the CML. Mortgage activity slumpos by 12% according ot National Mortgage Index (never heard of it) http://www.mortgagestrategy.co.uk/economy/mortgage-activity-slumps-12/1018265.article Quote Link to comment Share on other sites More sharing options...
Pent Up Posted September 13, 2010 Share Posted September 13, 2010 (edited) Funny the CMLs website latest: http://www.cml.org.uk/cml/home July sees continuing subdued mortgage market 13 Sep 10 | Demand for mortgages in July continued to be weak in what is traditionally a strong month. Edit: I thought traditionally there was a summer lull??? Edited September 13, 2010 by Pent Up Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted September 13, 2010 Author Share Posted September 13, 2010 Mortgage activity slumpos by 12% according ot National Mortgage Index (never heard of it) http://www.mortgagestrategy.co.uk/economy/mortgage-activity-slumps-12/1018265.article That's for August, so July was a blip? Quote Link to comment Share on other sites More sharing options...
kilroy Posted September 13, 2010 Share Posted September 13, 2010 That's for August, so July was a blip? no idea. will ahve to look into this index later. ONly started publishing on 12th Aug 2010 Quote Link to comment Share on other sites More sharing options...
Mega Posted September 13, 2010 Share Posted September 13, 2010 Up on what? Month before? Year to year? Mike Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted September 13, 2010 Author Share Posted September 13, 2010 Up on what? Month before? Year to year? Mike Pass, that's all they said on BBC News. Snappy headline . Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 13, 2010 Share Posted September 13, 2010 Approvals...that when MSE says to make multiple applications to get your mortgage. Quote Link to comment Share on other sites More sharing options...
koala_bear Posted September 13, 2010 Share Posted September 13, 2010 (edited) Funny the CMLs website latest: http://www.cml.org.uk/cml/home July sees continuing subdued mortgage market 13 Sep 10 | Demand for mortgages in July continued to be weak in what is traditionally a strong month. Edit: I thought traditionally there was a summer lull??? More significant quotes buried at the end of the report (the slow death of IO) "The take-up of full repayment products has remained high for a year. In July, 90% of first-time buyers took out a repayment mortgage, compared to July 2007, before the credit crunch, when only 67% did. 72% of home movers and 70% of those remortgaging also chose a full repayment mortgage in July this year. CML economist Paul Samter said: "The increase in the prevalence of repayment mortgages is likely in part to reflect the anticipation of regulatory changes by the Financial Services Authority to limit the availability of interest-only mortgages. "More generally, lending criteria remain tight, underpinned by caution on the part of both borrowers and lenders in the light of continuing economic uncertainty."" Edited September 13, 2010 by koala_bear Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted September 13, 2010 Share Posted September 13, 2010 Mortgage lending 'remains tight' http://www.bbc.co.uk/news/business-11282287 Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted September 13, 2010 Share Posted September 13, 2010 From the CML press release 14 Sep 2009: From today's press release: So, last year’s number revised down from 56,000 to 53,000, and now a healthy 6% year-on-year increase. Quote Link to comment Share on other sites More sharing options...
lets get it right Posted September 13, 2010 Share Posted September 13, 2010 From the CML press release 14 Sep 2009: From today's press release: So, last year's number revised down from 56,000 to 53,000, and now a healthy 6% year-on-year increase. Well spotted. We get endless statistical bolleaux from the VIs - it's a shame they can't be legally challenged. If it was shares they were talking about they'd be banged up. Quote Link to comment Share on other sites More sharing options...
Henrik Posted September 13, 2010 Share Posted September 13, 2010 From the CML press release 14 Sep 2009: From today's press release: So, last year’s number revised down from 56,000 to 53,000, and now a healthy 6% year-on-year increase. You couldn't make it up! Good find, but of course the media will ignore it :angry: Quote Link to comment Share on other sites More sharing options...
yellerkat Posted September 13, 2010 Share Posted September 13, 2010 So, last year’s number revised down from 56,000 to 53,000, and now a healthy 6% year-on-year increase. An excellent spot, FT. Well spotted. We get endless statistical bolleaux from the VIs - it's a shame they can't be legally challenged. If it was shares they were talking about they'd be banged up. Given a knighthood, more likely. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 13, 2010 Share Posted September 13, 2010 You couldn't make it up! Good find, but of course the media will ignore it :angry: they got the idea from governments,,,GDP figures unadj are compared with previously adj figures...if the change is the right way that is. US GDP and employment is often skewed this way. Quote Link to comment Share on other sites More sharing options...
koala_bear Posted September 13, 2010 Share Posted September 13, 2010 Well spotted. We get endless statistical bolleaux from the VIs - it's a shame they can't be legally challenged. If it was shares they were talking about they'd be banged up. How did they get revised down as I though this was mortgages where the cash was actually handed over not just granted in principle? 3,000 fraudulent applications? If so how come they got that far? 3,000 very very last minute chains falling through? or can the firms simply not count how many people they handed over the dosh to in a month with in 5 weeks of that month ending - it is pretty simple (this was several months after Nationwide took over Dunfermline so there shouldn't have been big one off issues, the numebr sound too small to be caused by the problems at Chelsea at the time) or are they just altering the figures to suit their needs at the time then revising them when no one is looking? Any answers? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 13, 2010 Share Posted September 13, 2010 How did they get revised down as I though this was mortgages where the cash was actually handed over not just granted in principle? 3,000 fraudulent applications? If so how come they got that far? 3,000 very very last minute chains falling through? or can the firms simply not count how many people they handed over the dosh to in a month with in 5 weeks of that month ending - it is pretty simple (this was several months after Nationwide took over Dunfermline so there shouldn't have been big one off issues, the numebr sound too small to be caused by the problems at Chelsea at the time) or are they just altering the figures to suit their needs at the time then revising them when no one is looking? Any answers? I dunno I keep banging on about APPROVALS, VIs keep banging on about how these ARE mortgages, yet we see last year, 6% never were. Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted September 13, 2010 Share Posted September 13, 2010 From the CML press release 14 Sep 2009: From today's press release: So, last year’s number revised down from 56,000 to 53,000, and now a healthy 6% year-on-year increase. Indeed and it was discussed here back in March. cooling the past is a well known trick to get rid of inconvenient coolness in the current financial temperature. But I am sure it is not deliberate. CML feb Figures (and previous years) Quote Link to comment Share on other sites More sharing options...
Little Professor Posted September 13, 2010 Share Posted September 13, 2010 From the CML press release 14 Sep 2009: From today's press release: So, last year’s number revised down from 56,000 to 53,000, and now a healthy 6% year-on-year increase. Well spotted. Disgusting manipulation. Quote Link to comment Share on other sites More sharing options...
Timm Posted September 13, 2010 Share Posted September 13, 2010 I dunno I keep banging on about APPROVALS, VIs keep banging on about how these ARE mortgages, yet we see last year, 6% never were. From the footnotes: 3. The Council of Mortgage Lenders does not publish statistics for mortgage approvals. The data in our monthly Regulated Mortgage Survey and gross lending press releases relate to mortgage advances only. A mortgage approval is the firm offer to a customer of a specific amount of credit secured against a particular property. A mortgage advance is the total amount of loan actually provided to the buyer, by the lender. Please see the mortgage statistics timeline on our website for further information. But if the CML figures are loans actually made, how on earth can they overcount by 3000? Quote Link to comment Share on other sites More sharing options...
winkie Posted September 13, 2010 Share Posted September 13, 2010 More people buy in June...in July they are all on holiday. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted September 13, 2010 Share Posted September 13, 2010 I've dropped the three names at the bottom of the page an email, casually asking if they could explain the difference. Will post any reply I get! Quote Link to comment Share on other sites More sharing options...
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