Tuesday, April 24, 2007

B&B see falling demand for mortgages as fear that rates could reach 7.5%

Higher rates beginning to dampen mortgage demand

Rising interest rates are causing demand for mortgages to slow, according to high-street lender Bradford & Bingley. The building society said that mortgage approvals for house purchases have fallen back from their recent peak, although it added that the slowdown in demand was modest. Steven Crawshaw, group chief executive of Bradford & Bingley, said "with the economy remaining healthy and the fundamentals which support the housing market still very sound, mortgage lending is expected to remain at high levels." His comments come after a group of leading economists warned that interest rates, currently at 5.25pc, might need to rise to 7.5pc over the next two years if inflation is to be slowed.

Posted by cash_buyer @ 01:08 PM (506 views)
Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>