Tuesday, April 8, 2008
Few surprises here
Mortgage lending hits 16 year low
"We expect this process of further tightening in lending criteria to continue in the second quarter as lenders respond to the challenging market conditions,"So no end in sight - will the headline read 'all-time low' next month?
Posted by uncle tom @ 11:35 AM (445 views)
6 thoughts on “Few surprises here”
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European-bear says:
“The CML’s mortgage figures for the three months to February, at a combined 163,000, are the lowest for any quarter since early 1992 during the depths of the last recession.
There were just 18,000 loans to first-time buyers in February, the lowest figure since monthly records started in 2002.
And the level of first-time lending to home buyers over the past three months is now at its lowest since the first quarter of 1975”
This all points to a crash at least a big as the last one……
Pmaupoil says:
These are feb stats so just imagine which level we are going back to when they will publish the march figures with the mass removal action of the past 3/4 weeks… I think this is unprecedented!
Landedgentry says:
A serious change to the line up of BBC and other channel’s property improvement programmes. What a pain!
Also the royalty fees from franchising these shows to cable / satellite channels will be a bit thin now. Oh no!
Thecoopster says:
It says 30% of the 49,000 were for house purchases, which is 14,700. Yet 18,000 were for FTBs
??? does not compute…
Does it meana 18,000 FTBs in the quarter to feb?! That’s not many is it?!
Landedgentry says:
Desperate Struggling homeowners and GB asking Mortgage lenders to lower rates.
Lenders response:
88_________________+880_______
_+880_______________++80_______
_++88_____Homie____+880________
_++88_____________++88________
__+880___________++88_________
__+888_________++880__________
__++880_______++880___________
__++888_____+++880____________
__++8888__+++8880++88_________
__+++8888+++8880++8888________
___++888++8888+++888888+80____
___++88++8888++8888888++888___
___++++++888888fx88888888888___
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____++++++++000888888888888___
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Fed Up says:
This BBC ‘news’ article is just more rate-cutting propaganda in the lead up to Thursday’s MPC meeting.