Friday, September 18, 2009

Start of the next leg down?

Summertime plunge in mortgage lending

Mortgage lending fell by 13% in August, with ongoing funding constraints likely to prevent any pick-up in housing market activity, the Council of Mortgage Lenders reported today. Although the group attributed August’s fall to a seasonal decline in activity, it said that demand from consumers and a prudent approach to lending criteria would mean the market remains subdued.

Posted by lukeskywalker @ 11:31 AM (610 views)
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