Friday, April 22, 2011
No Hope ;-)
However, in the same breath the Council for Mortgage Lenders has blown that house down with a report of yet another year on year drop in mortgage approvals. Mortgage approvals fell 2% year on year in March according to the CML. Optimists will cling to the 21% month on month rise, but this is simply a seasonal trend. Compared to the fourth quarter of 2010, the first quarter's 30.1 billion worth of mortgages represents an 11% decline on the quarter.