Monday, August 6, 2007

Are borrowers coping with rate rises?

Despite interest rate hikes only one percent of mortgages borrowers are in arrears - CML

"Interest rates are clearly higher than many were expecting, and are set to remain so. And the greater risks inherent in sub-prime lending are resulting in significantly higher levels of repossession in that part of the market compared to mainstream experience. This impact has been underestimated in our past market data, which we have now revised. While the revisions are naturally unwelcome, more accurate market information is important. We will work to further improve data on both mainstream and specialist sectors."

Posted by converted lurker @ 01:05 PM (323 views)
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