Mortgage lending up 16%

Graham_Devon

Link

Mortgage lending rose by 16% during March in a further sign that activity in the housing market is beginning to pick up, figures showed.

Looks good for those who are trying to buy.

Also, could this be the result of QE doing it's job?

RabbitMad

but surely a 16% on top of not much is still not much? Would the headline sound better saying mortgage lending still only 20% of 2007 levels or something?

chucky

it is probably QE but it doesn't correlate with the 40% increase in sales.

no idea why, maybe it's cash-rich people currently buying?

but to be fair Graham the way these two numbers are probably calculated is liking comparing apples and oranges.

System

RabbitMad wrote: »

but surely a 16% on top of not much is still not much? Would the headline sound better saying mortgage lending still only 20% of 2007 levels or something?

It seems we will only be happy if we have one massive jump back up to 2007 levels in a one month period.

lostinrates

re mortgage lending being up.

We've bben confident of getting a mortgage throughout...but have been waiting for the right property with no rush because of the state of play in the market.

Is it possible that lending is up and percentge os approvals will rise because suitable applicants are returning to market, not just the peole who don't follow the news but want to buy a house on a wish and a prayer?

chucky

RabbitMad wrote: »

but surely a 16% on top of not much is still not much? Would the headline sound better saying mortgage lending still only 20% of 2007 levels or something?

it probably would but HPC.co.uk don't work in the media

lostinrates

Joeskeppi wrote: »

Captain Obvious makes yet another appearance.

It seems we will only be happy if we have one massive jump back up to 2007 levels in a one month period.

In fact, that would make be very iunhappy, and more fear ful of a market which had returned to insanity!:eek:

Dan:_4

And from the BBC
http://news.bbc.co.uk/1/hi/business/8011719.stm

Mortgage lending on the increase is a sure sign that the housing market is near the bottom.

Graham_Devon

RabbitMad wrote: »

but surely a 16% on top of not much is still not much? Would the headline sound better saying mortgage lending still only 20% of 2007 levels or something?

Depends where you look I guess, but this is the press association. Non bias. They would also say "mortgage lending fell 10% in March" if it fell 10% in march. And that 10% wouldnt mean that much either, because of the small numbers.

ad9898_3

I think transactions stablising 52% below March 2008 (which was not good either in historical terms) is a par for the course, after all 50% of the funding that was available has now gone, not return for many years.

the_ash_and_the_oak

Dan: wrote: »

And from the BBC
http://news.bbc.co.uk/1/hi/business/8011719.stm

Mortgage lending on the increase is a sure sign that the housing market is near the bottom.

not really feeling this tbh. think transactions need to increase for prices to fall - otherwise they just stay kinda nowhere with no sales and no data. feel like prices only really started falling with any pace in the US once transactions rose. kinda feeling similar could be case here

either way not really feeling low transactions are good for anyone so news like this is good for all imo