Tuesday, February 20, 2007
The end of high prices?? hhmmm
LONDON (Reuters) - Mortgage lending rose strongly again, building society mortgage approvals hit a record high and money supply growth picked up in January, bolstering the case for higher interest rates this year. Interest rate and gilt futures extended losses after the data on Tuesday which suggest three rate rises since August have not yet affected the housing market significantly, while signs of excess cash in the system may fuel fears of higher inflation.