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

V Is Ramping Coming Back To Bite Them?

Recommended Posts


Times Online July 19, 2007
Mortgage lenders call for interest rate freeze
The CML urges the Bank of England to wait before acting again on rates despite record £34.2bn June lending figure
Steve Hawkes
One of Britain’s biggest financial trade bodies warned the Bank of England today not to raise interest rates to 6 per cent despite revealing that mortgage lending soared to a record £34.2 billion in June.
The Council for Mortgage Lenders (CML) urged the Bank’s rate-setting Monetary Policy Committee to “carefully assess” the impact of the five rate hikes made over the past year before taking any further action.
The body, which represents banks and building societies across the UK, added that June’s record gross lending figure may have been distorted by the sheer number of homebuyers rushing to complete before rates went up, as widely predicted beforehand, in July.
Michael Coogan, the CML director-general, said: “Despite the record level of mortgage lending, there are signs that the market is feeling the cumulative effects of the five interest rate rises we have seen over the past year.

So which is it: is the housing market cooling contrary to VI claims in which case no further IR are required. Or is it heating up as the VIs all claim and further IR are required? They are in a bit of a fix as any admissions as to the declining state of the market may cause panic and any claims that it is rising will tell Merv to hike. Perhaps its time for the VIs to stop sexing up their reports and to begin telling the truth of what is really hapenning in the marketplace?*


* http://news.bbc.co.uk/1/shared/spl/hi/in_d...html/houses.stm

Edited by Realistbear

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.

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.

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 349 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

  • 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.