guitarman001 Posted October 25, 2010 Share Posted October 25, 2010 Are these not out today 9:30am? Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted October 25, 2010 Share Posted October 25, 2010 (edited) Surprised no-one has posted this yet (Nos in thousands) Month Actual Expected Sept 31.8 32.3 Aug 33.7 35.3 Jul 34.8 37.0 Jun 36.7 36.8 May 35.7 37.6 Apr 34.9 39.3 Mar 35.3 34.3 Feb 35.1 45.3 Jan 45.9 46.0 http://www.forexfactory.com/calendar.php Mortgage approvals leapt off a cliff in Feb, buggered about around the 34-36k mark for a few months and now starting to show a nice downard trend. Does anyone know the lowest it has been in the last 20 years? Edit: Mods - please merge with guitarman's thread - Cheers! Edited October 25, 2010 by FaFa! Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted October 25, 2010 Share Posted October 25, 2010 Are these not out today 9:30am? Seasonally adjusted BBA mortgage approvals for house purchase totalled 31,104 in September. This compares with 31,781 in August, and 42,042 in September 2009. It is the lowest figure since March 2009. Chart: Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted October 25, 2010 Share Posted October 25, 2010 (edited) Threads were merged Edited October 25, 2010 by FaFa! Quote Link to comment Share on other sites More sharing options...
Nationalist Posted October 25, 2010 Share Posted October 25, 2010 Somewhat lower than expected. Another negative indicator. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 25, 2010 Share Posted October 25, 2010 I think we are house price happy - resigned to the madness. All the data is coming out negative yet we are still not seeing a housing crash. I feel punch-drunk. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted October 25, 2010 Share Posted October 25, 2010 I was going to post it. Normally do but couldn't be arsed today! All good though. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted October 25, 2010 Share Posted October 25, 2010 I think we are house price happy - resigned to the madness. All the data is coming out negative yet we are still not seeing a housing crash. I feel punch-drunk. Was -3.6% not good enough for ya? Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted October 25, 2010 Share Posted October 25, 2010 I think we are house price happy - resigned to the madness. All the data is coming out negative yet we are still not seeing a housing crash. I feel punch-drunk. Leading indicator, my good man, leading indicator. I previously posted that unless we saw definitive moves down by the autumn, I would be buying. I see nothing here, or recently, to change my mind. Quote Link to comment Share on other sites More sharing options...
WSG Posted October 25, 2010 Share Posted October 25, 2010 I think we are house price happy - resigned to the madness. All the data is coming out negative yet we are still not seeing a housing crash. I feel punch-drunk. House prices always go up Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 25, 2010 Share Posted October 25, 2010 I was going to post it. Normally do but couldn't be arsed today! All good though. I think the Nationwide will make us all depressed this week. I was in my Nationwide last week and they had big signs up about their new charges for all sorts of things - methinks there is a company that needs money. Why I wondered - hmm, mortgages and savers deserting them perhaps. In other words, I think they will go heck for leather to try and show a bounce in the housing market this week. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 25, 2010 Share Posted October 25, 2010 Leading indicator, my good man, leading indicator. I previously posted that unless we saw definitive moves down by the autumn, I would be buying. I see nothing here, or recently, to change my mind. The above does not make sense - you begin by saying that the figures are a leading indicator... presumably of a fall in HPs... but then you go on to say that you will be buying unless you see definitive moves down... which you ain't seeing.... so what are you saying... Going to lie down now. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted October 25, 2010 Share Posted October 25, 2010 I think the Nationwide will make us all depressed this week. I was in my Nationwide last week and they had big signs up about their new charges for all sorts of things - methinks there is a company that needs money. Why I wondered - hmm, mortgages and savers deserting them perhaps. In other words, I think they will go heck for leather to try and show a bounce in the housing market this week. I think we will see a modest decline in nationwide this week. Nothing spectacular like Halifax but a nice drop all the same. Land registry is also out on the same day (Thursday) which should begin showing some negatives soon, hopefully it will be a good day for us. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 25, 2010 Share Posted October 25, 2010 I think we will see a modest decline in nationwide this week. Nothing spectacular like Halifax but a nice drop all the same. Land registry is also out on the same day (Thursday) which should begin showing some negatives soon, hopefully it will be a good day for us. The same day!? This week! Will we sleep Wednesday night? Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted October 25, 2010 Share Posted October 25, 2010 (edited) The above does not make sense - you begin by saying that the figures are a leading indicator... presumably of a fall in HPs... but then you go on to say that you will be buying unless you see definitive moves down... which you ain't seeing.... so what are you saying... Going to lie down now. I am seeing definitive moves down - in fundamentals, indicators and current price: Fundamentals: 1. Kerbs to HB 2. Lowering mortgage support 3. Public sector job losses Indicators: Mortgage approvals falling Current price: Both Halifax and Nationwide are quarter on quarter down (q on q smoothes out month on month fluctuations). Halifax has been q on q down since April. All this is broadly speaking as expected. GDP data coming out tomorrow should be interesting.... Edited October 25, 2010 by FaFa! Quote Link to comment Share on other sites More sharing options...
Pent Up Posted October 25, 2010 Share Posted October 25, 2010 GDP data coming out tomorrow should be interesting.... What do think the odds are on a negative? Evens? Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted October 25, 2010 Share Posted October 25, 2010 What do think the odds are on a negative? Evens? Dunno - I'd have to have a look at the make up of the proceeding numbers to hazard a guess. Anyone know where the info is? Quote Link to comment Share on other sites More sharing options...
Pent Up Posted October 25, 2010 Share Posted October 25, 2010 BBA mortgage approvals at 18-month nadirLONDON (SHARECAST) - There was more bad news for the UK housing market on Monday as the British Bankers’ Association’s measurement of mortgage approvals fell to an 18-month low in September. The number of new mortgages approved by members of the British Bankers’ Association (BBA) in September was just 31,104, down from 31,781 in August and below market expectations of 31,600. The September figure was down 26.0% on September of last year and well below the monthly average of 34,620 for new mortgage approvals over the last six months. “Demand for new mortgages remains low despite more properties on the market and falling house prices,” observed BBA statistics director David Dooks. The number of loans for house owners remortgaging eased to 23,820 in September from 23,981 in August. Other secured loans declined to 17,798 from 18,169 in August. “Business borrowing continues to reflect weak demand combined with companies reducing gearing by repaying bank borrowing,” he added. Net mortgage lending in value terms declined to £1.6bn from £2.5bn, well below the monthly average of £2.2bn for the previous six months. Lovely Quote Link to comment Share on other sites More sharing options...
mattyfc Posted October 25, 2010 Share Posted October 25, 2010 You would have to be stark raving to buy property with large leverage currently. Every indicator is showing prices are falling; buying is clearly financial suicide for the majority of people. No wonder mortgage approvals are dropping. The bubble is deflating; it will not be pretty. Especially from the media, who are usually the most leveraged and the biggest rampers. Expect plenty of whining. The question is how far and fast we it will go down. It would be nice to see some coverage of this focused on the obvious long term advantage of having house prices that are more affordable. The idea that every rising house prices is always good needs to be firmly flushed. Hopefully we can learn lessons and the mistakes of the last 13 years will not be repeated, we will get back to sustainable growth. Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted October 25, 2010 Share Posted October 25, 2010 You would have to be stark raving to buy property with large leverage currently. Every indicator is showing prices are falling; buying is clearly financial suicide for the majority of people. No wonder mortgage approvals are dropping. The bubble is deflating; it will not be pretty. Especially from the media, who are usually the most leveraged and the biggest rampers. Expect plenty of whining. The question is how far and fast we it will go down. It would be nice to see some coverage of this focused on the obvious long term advantage of having house prices that are more affordable. The idea that every rising house prices is always good needs to be firmly flushed. Hopefully we can learn lessons and the mistakes of the last 13 years will not be repeated, we will get back to sustainable growth. I thought the same at the end of the last crash, but here we are again Quote Link to comment Share on other sites More sharing options...
neil324 Posted October 25, 2010 Share Posted October 25, 2010 (edited) You would have to be stark raving to buy property with large leverage currently. Every indicator is showing prices are falling; buying is clearly financial suicide for the majority of people. No wonder mortgage approvals are dropping. The bubble is deflating; it will not be pretty. Especially from the media, who are usually the most leveraged and the biggest rampers. Expect plenty of whining. The question is how far and fast we it will go down. It would be nice to see some coverage of this focused on the obvious long term advantage of having house prices that are more affordable. The idea that every rising house prices is always good needs to be firmly flushed. Hopefully we can learn lessons and the mistakes of the last 13 years will not be repeated, we will get back to sustainable growth. Good post. It needs to change, you look at Germany lower ownership percentage, cheaper property. Then look at their manufacturing base, someone posted a chart yesterday showing worldwide budget deficits. I was surprised to see Germany even better than China and they have no oil. Some radical change and complete change of direction needs to happen here. Edited October 25, 2010 by neil324 Quote Link to comment Share on other sites More sharing options...
Timm Posted October 25, 2010 Share Posted October 25, 2010 I think we will see a modest decline in nationwide this week. Nothing spectacular like Halifax but a nice drop all the same. Land registry is also out on the same day (Thursday) which should begin showing some negatives soon, hopefully it will be a good day for us. And then seven days later, the BoE makes the big choice as to whether to print more money this quarter. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 25, 2010 Share Posted October 25, 2010 I think we are house price happy - resigned to the madness. All the data is coming out negative yet we are still not seeing a housing crash. I feel punch-drunk. I think the reason for this is that no one who needs to borrow/stretch themselves can buy with the way prices are. When prices get to levels where people can buy the indexes will fall off a cliff...I'm hoping that's what we started to see with the halifax last month. Quote Link to comment Share on other sites More sharing options...
bazzer Posted October 25, 2010 Share Posted October 25, 2010 What do think the odds are on a negative? Evens? They'll adjust the previous ones down, and these ones will be up on that newly adjusted figure. Quote Link to comment Share on other sites More sharing options...
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