Jump to content
House Price Crash Forum
Sign in to follow this  
Guest wrongmove

Bba Mortgage Approvals Slightly Down Yoy !

Recommended Posts

Guest wrongmove

At last ! Some better news about approvals. BoE figures out next week. Some of the fall will have been due to Easter being in April this year. Be interesting to see what happens this summer/autumn.

UK mortgage approvals fall 4 pct y/y in Apr--BBA

"The number of mortgage approvals for home purchases in Britain edged down in April on a year ago, the first annual decline in nine months, British Bankers' Association data showed on Friday.

Approvals -- the number of loans agreed but not yet completed -- totalled 64,683 in April after 85,698 in March. That marked a 4 percent fall on a year ago, the first annual drop since July 2005."

Share this post


Link to post
Share on other sites

Wonderful. We can get back to talking about lower rates now.

Wrongmove, you really know how to make my day!

:)

The TTRTR program:

10 IF NEWS = BAD THEN PRINT "Hurray we'll get lower rates"

20 ELSE IF NEWS = GOOD THEN PRINT "I was right all along no crash"

30 GOTO 10

Beautiful in its simplicity...

Share this post


Link to post
Share on other sites

The TTRTR program:

10 IF NEWS = BAD THEN PRINT "Hurray we'll get lower rates"

20 ELSE IF NEWS = GOOD THEN PRINT "I was right all along no crash"

30 GOTO 10

Beautiful in its simplicity...

How amazingly true!

If things are going well, HPI up.

If things are going bad, rates down then HPI up.

You're actually starting to get it now!

Note the sig at this point please: Heads I win, tails you lose.

Share this post


Link to post
Share on other sites

So the slowdown is starting as the sentiment about rates turns... all as predicted on HPC. May will be down much further.

Share this post


Link to post
Share on other sites

The best thing about this news is that 1 year ago, the market was crashing. Even TTRTR admits it was crashing back then.

If approvals are now lower than then, it shows the market is stalling once again and on a downward trend.

This was exactly what was predicted here in Novemebr/December 05.

Interesting times ahead.

Share this post


Link to post
Share on other sites

The TTRTR program:

10 IF NEWS = BAD THEN PRINT "Hurray we'll get lower rates"

20 ELSE IF NEWS = GOOD THEN PRINT "I was right all along no crash"

30 GOTO 10

Beautiful in its simplicity...

The bears follow a similar algorithm but in reverse.

Could this be the trigger?

:unsure:

Share this post


Link to post
Share on other sites

The TTRTR program:

10 IF NEWS = BAD THEN PRINT "Hurray we'll get lower rates"

20 ELSE IF NEWS = GOOD THEN PRINT "I was right all along no crash"

30 GOTO 10

Beautiful in its simplicity...

simple mind

Share this post


Link to post
Share on other sites

I my view this has been caused by the shift in the futures market on interest rates which in turn pushed up all the fixed rate deals.

You dont need the BoE to raise rates when the money markets do it for you. :D

Edited by I Told You So

Share this post


Link to post
Share on other sites

Could this be the trigger?

:unsure:

WHo needs a trigger? Market is already crashing, slowly though. In my area half of the sales agreed in Feb and March have already been broken and the properties have come back to market.

Share this post


Link to post
Share on other sites

In my area half of the sales agreed in Feb and March have already been broken and the properties have come back to market.

I forgot to mention, some of them at lower asking prices :D

Share this post


Link to post
Share on other sites

How amazingly true!

If things are going well, HPI up.

If things are going bad, rates down then HPI up.

You're actually starting to get it now!

Note the sig at this point please: Heads I win, tails you lose.

Sheer genius you have found the only form of investment that you can never lose on and it was sitting under our noses all the time.

I defer to your genius and congratulate you on being the cleverest man alive.

Where should we send your Nobel prize to?

Share this post


Link to post
Share on other sites

Wonderful. We can get back to talking about lower rates now.

Wrongmove, you really know how to make my day!

:)

As ever the bull(sh1tter)s forget that the BoE only targets CPI - which of course is rising incessantly.

Share this post


Link to post
Share on other sites

Sheer genius you have found the only form of investment that you can never lose on and it was sitting under our noses all the time.

I defer to your genius and congratulate you on being the cleverest man alive.

Where should we send your Nobel prize to?

F me you're actually getting it!

When govt promised us inflation, it was like a promise that property would always go up!

I think GB will be in front of me in the line for the Nobel BTW.

Share this post


Link to post
Share on other sites

No Spring Bounce then? :lol:

Where I am, the market picked up significantly back end 05 and Jan, Feb 06, whilst the papers and VI's were ramping rate cuts, etc, etc. This was not a spring bounce, but was a bounce none the less.

Houses which were on at £185K back then are now on at £195, £200k. All this was on the back of the B of E August rate cut. This rate cut was a huge mistake as the market was propelled even higher out of line with fundementals, on the back of media spin.

Now, the asking prices will have to fall back quickly as supply builds, which will start a rapid descent. As we all know, let the trend be your friend. . . . . this could start a fast moving bear market - downwards.

This is good news and is as predicted by a lot on here, September, October last year. Can't remember who you were, but you were spot on. You said the effects would wear off back end of the spring as rate rises became a prospect. - as they are.

A B of E rate rise or two, the fed continuing to hike, etc and later this year, I will see some nice nominal falls IMO.

Edited by BubbleTurbo

Share this post


Link to post
Share on other sites

F me you're actually getting it!

Yes I am a convert, I have decided to start a religion to worship you your holiness.

Join me and worship our saviour, Lord TTRTR, for he has shown us the way. The way to abolish people losing money on investments, from now on people will only ever make money on investments.

I think GB will be in front of me in the line for the Nobel BTW.

We shall worship him too for he is the man to abolish bust along with your holiness.

Now a moment of quiet whilst we pray for interest rates to fall and the non-believers to perish in rented accomodation...

Share this post


Link to post
Share on other sites

At last ! Some better news about approvals. BoE figures out next week. Some of the fall will have been due to Easter being in April this year. Be interesting to see what happens this summer/autumn.

UK mortgage approvals fall 4 pct y/y in Apr--BBA

"The number of mortgage approvals for home purchases in Britain edged down in April on a year ago, the first annual decline in nine months, British Bankers' Association data showed on Friday.

Approvals -- the number of loans agreed but not yet completed -- totalled 64,683 in April after 85,698 in March. That marked a 4 percent fall on a year ago, the first annual drop since July 2005."

Hi Wrong move.

Not trying to rain on you party, it should be remember the Easter was in March last year , So April 05 had more working days than April 06.

However that said the number stronger SA than last year, however it is point to the BOE numbers showing a fall from Last months 116 (Fallen from 122 in Jan). If I was a gambler I would expect it to be 108K FWIW

Share this post


Link to post
Share on other sites
Guest wrongmove

Hi Wrong move.

Not trying to rain on you party, it should be remember the Easter was in March last year , So April 05 had more working days than April 06.

However that said the number stronger SA than last year, however it is point to the BOE numbers showing a fall from Last months 116 (Fallen from 122 in Jan). If I was a gambler I would expect it to be 108K FWIW

Hi KoN

don't worry, I'm not getting too excited. I noted the Easter effect in the original post. The figures may not exactly be good news, but they are "less bad" at least. :)

Share this post


Link to post
Share on other sites

Hi Wrong move.

Not trying to rain on you party, it should be remember the Easter was in March last year , So April 05 had more working days than April 06.

However that said the number stronger SA than last year, however it is point to the BOE numbers showing a fall from Last months 116 (Fallen from 122 in Jan). If I was a gambler I would expect it to be 108K FWIW

If you're going to revise April's numbers up to account for the Easter effect then you must also revise March's numbers down. Overall I guess they should balance out. What's the March/April average compared to last year and long-term average?

T&T

Share this post


Link to post
Share on other sites

If you're going to revise April's numbers up to account for the Easter effect then you must also revise March's numbers down. Overall I guess they should balance out. What's the March/April average compared to last year and long-term average?

T&T

You do, the BOE NSA approvals in March were 143K the second highest ever, but they SA down to 116K

What I'm saying is that you need to SA down April 06, but its less than the SA April 05(When Easter was in April)

Trust that helps explain

Share this post


Link to post
Share on other sites

In my very simple way of looking at these figures, this is a fall of approx 25%... surely this cannot be accounted for by there being fewer working days in the month. You can't tell me there were 25% less working days in April ! or am I missing something ?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.