Friday, 18 July 2008

Gross mortgage lending down in June

The housing market continues to be starved of credit. Gross mortgage lending in June amounted to £23.8 billion; down 2.7 percent relative to May and 31.7 percent compared to a year ago.

Remember the golden rule of real estate; no credit, no house price appreciation.

3 comments:

CWS said...

We seem to have settled down to a 30 percent annual decline.

CWS said...

We seem to have settled down to a 30 percent annual decline.

freddyb45 said...

There's definitely a greater number of people being refused mortgages, and the housing market is being sent into crisis. One area of mortgage investments that I've never really understood though is the concept of mortgage bonds. Could someone possibly lend me a bit of information about these as I'm looking to get onto the property ladder.