Mortgage approvals leap by 19 per cent (merged)

wolfman

I always like to wait a bit anyway before having trust in such news.

19% is good, although I'd wait until next month to see the change. It's still a relative increase too (ie If there were 5 approvals last month, and 10 this month that would be a 100% increase, as an example).

I still remain pessimistic. They're increasing when the base rate is at 0.5%, and jobs are still being lost, and companies going under. I just see it as a bit of a trap.

And given that I still can't afford to buy I'm quite happy for house prices to continue to drop.

Graham_Devon

whathavewedone wrote: »

Of course it couldn't possibly be a sign that the banks are becoming a bit more willing to lend...

To be fair, we need to know how many they are declining too.

Quantitative Easing was supposed to do this, i.e. make more money available. So it shouldn't be a surprise. But what that 19% actually represents is a different matter altogether.

Does it just mean that 50,000 mortgages are being denied instead of 55,000 for instance?

So it could be a QE success, but without knowing all the figures, it's hard to tell. But the very fact we had to use the excess of QE to get to a 19% increase on the back of a very very low number of mortgages, therefore 19% easily achieveable, really is scary.

Dan:_4

Another sign prices will level out in the coming months

Cannon_Fodder

After all the billions they have been given, I should hope they are - but to businesses to help their cash-flow, rather than house-buyers whilst house prices remain falsely high.

And, as it is the public that have improved tail-end 2008 savings ratio, I would be inclined to give them more credit for good sense than bankers.

For some people, 20%+ off may not be a bad deal.

Though, I admit to the possibility that some portions of the public are dumb as frogs, and will think "the only way is up now".

ad9898_3

whathavewedone wrote: »

Makes me laugh the overwhelming silence any positive news posts receive!

What's good about it ?, that more people have put the albatross of debt around there neck when prices are falling, still it takes all sorts I guess.

Dan:_4

ad9898 wrote: »

What's good about it ?, that more people have put the albatross of debt around there neck when prices are falling, still it takes all sorts I guess.

Ahh, but it was widely agreed some months ago that when we see mortgage approvals on the rise, house prices will follow.

I suspect that will be all changed now.

ad9898_3

Dan: wrote: »

Another sign prices will level out in the coming months

Honestly Dan, do you really think so ?



I would find that absolutely amazing if it were to happen.

Dan:_4

Jonbvn wrote: »

Article from the Torygraph.
http://www.telegraph.co.uk/property/propertynews/5075528/Mortgage-approvals-leap-by-19-per-cent.html

BTW, the article is serious spin, since approvals are up 19% month on month, but 44% down as compared to Feb 2008.

LoL...how is it serious spin?

Rochdale_Pioneers

Its all about narrative again. If you set out your stall that anyone buying a house is an idiot and the market has another 1900% to fall, any and all signs that things aren't that bad are abused or better yet ignored completely.

StevieJ

ad9898 wrote: »

Honestly Dan, do you really think so ?



I would find that absolutely amazing if it were to happen.

Is the current house price sat on the trend line ?