Tuesday, June 2, 2009
“Approvals a good indicator of short-term trends”
The number of new mortgages approved for home buyers rose in April for the third month in a row, according to the Bank of England. Lenders approved 43,201 new loans to home buyers, although the number of loans to people moving lenders or topping up existing loans fell again. Approvals for home buyers are a good indicator of short-term trends and suggest sales may continue to rise.