Tuesday, Oct 20, 2009

CML - "The rise in mortgage lending is unlikely to continue"

FT: Mortgage lending shows further modest growth

Mortgage lending rose once again in September by 2 per cent to reach £12.5bn, but the figure is still significantly lower than the same month last year. According to new figures from the Council of Mortgage Lenders (CML), there has been a significant pick up in house purchase activity, however, remortgages have continued to decline. The CML revealed that gross mortgage lending totalled £12.5bn in September, a 2 per cent rise from the £12.3bn in August but down 27 per cent from September 2008.Lending in the third quarter of 2009 reached an estimated £38.9bn, an 18 per cent increase from the second quarter but still down 36 per cent from the third quarter of last year.

Posted by jack c @ 10:42 AM (889 views)
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2 Comments

1. p. doff said...

Lending up. Houseprices up. Gold up, Shares up.
Joblosses down, Repossessions down. Inflation down.

Gordon truly is a miracle worker and deserves our support at the election :-)

Tuesday, October 20, 2009 11:09AM Report Comment
 

2. mark wadsworth said...

"Spring bounce, summer bounce, autumn bounce, Winter plateau" :)

Tuesday, October 20, 2009 11:23AM Report Comment
 

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