Mortgage lending up in October
The Council of Mortage Lenders (CML) have reported that mortage lending rose by a record monthly amount for October.
In October a total of £30.3 billion was loaned to homebuyers, a 12% increase from the £27 billion of 12 months ago and just 8% below the overall record of £33 billion, set in August this year.
CML director Michael Coogan said "For yet another month the housing market is proving itself to be in robust shape. Housing demand and mortgage approvals have been strong over recent months, despite the rise in interest rates."
However he does go on to say there may well be a slight slow down in 2007 " with interest rates rising for the second time in three months, we anticipate a modest slow down in house sales and mortgage approvals as 2007 progresses."
In October a total of £30.3 billion was loaned to homebuyers, a 12% increase from the £27 billion of 12 months ago and just 8% below the overall record of £33 billion, set in August this year.
CML director Michael Coogan said "For yet another month the housing market is proving itself to be in robust shape. Housing demand and mortgage approvals have been strong over recent months, despite the rise in interest rates."
However he does go on to say there may well be a slight slow down in 2007 " with interest rates rising for the second time in three months, we anticipate a modest slow down in house sales and mortgage approvals as 2007 progresses."
posted by ew at
9:14 AM
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