Thursday, April 21, 2011

Mortgage lending up 21% m-o-m, but down 2% y-o-y

Mortgage lending rises as housing market 'emerges hesitantly from hibernation'

Mortgage lending increased by 21pc during March as both buyers and remortgaging returned to the market. But overall lending has dropped by 2pc over the past 12 months and by 11pc since the end of 2010. Bob Pannell, the CML's chief economist, said: "The housing market has emerged hesitantly from hibernation. Household finances are under a lot of pressure, and as a result demand for house purchase loans fell in the first three months of 2011." Daoud Fakhri, an analyst at Datamonitor, said: "The market has a long way to go, as the initial feeling in 2010 was that gross lending would grow to around £150 billion, but instead it fell." [So in other words, the market is still falling and expert predictions are as useless as ever.]

Posted by drewster @ 10:15 AM (1284 views)
Please complete the required fields.



2 thoughts on “Mortgage lending up 21% m-o-m, but down 2% y-o-y

  • The housing-banking industry is eager to drag in some more suckers before this Ponzi scheme finally crashes.

    Reply
    Please complete the required fields.



  • “expert predictions are as useless as ever”

    My first thought when reading that was that it pretty much summarises HPC’s performance over the last five years.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>