Friday, November 23, 2007
Mortgage approvals at lowest figure since records began!
The number of mortgages approved by banks for house purchases fell to a record low last month, figures showed today, in further evidence that the housing market is slowing down. The British Bankers' Association (BBA) said 44,105 mortgages had been approved for purchases during the month, down from 53,997 in September and 37.4% lower than the number in October 2006. This is the lowest figure since records began 10 years ago.