Mortgage Approvals up in April

Spiv_2

Mortgage approvals rose in April


"The number of new mortgages approved for home buyers rose in April for the third month in a row, according to the Bank of England."

http://news.bbc.co.uk/1/hi/business/8078426.stm

System

If anyone is interested:

adr0ck

so thats roughly a 34% increase in mortgage lending since January?

what's the average % increase in mortgage lending from January to April?

be interesting to see (to take out the time of year spring thing)

pizzagirl

You're getting desperate now. 43,201? Is that all? And that's with the spring bounce; what's it going to be like when we hit the winter?



"Bank of England figures showed mortgage approvals rose for the fifth month in a row in April to a one-year high of 43,201. That was higher than the 41,000 expected and an increase of 3,163 compared with March.
Although it represents a sharp increase on the record low of 27,501 approvals in November, the number is also far short of the 2007 levels of approvals which were above 100,000. "






.

Degenerate

adr0ck wrote: »

so thats roughly a 34% increase in mortgage lending since January?

what's the average % increase in mortgage lending from January to April?

be interesting to see (to take out the time of year spring thing)

Ahem...

Degenerate

pizzagirl wrote: »

You're getting desperate now. 43,201? Is that all? And that's with the spring bounce; what's it going to be like when we hit the winter?

It's bears like you that are getting desperate when you try to portray a 34% increase in approvals and 28% increase in lending as bad news. And the spring bounce is irrelevant, these figures are seasonally adjusted.

pizzagirl

You can seasonly adjust all you want. There's a massive gulf between 43,000 and 100,000+ mortgage approvals.

chucky

pizzagirl wrote: »

You can seasonly adjust all you want. There's a massive gulf between 43,000 and 100,000+ mortgage approvals.

and 100,000+ approvals means 10% HPI per year - is that what you want?

you can't have it both ways my little chocolate drop

ad9898_3

Lets just put things in perspective with these approvals of 42,000, I have posted a link below which shows BoE mortgage approvals back to April 1993, house prices were still falling between then and '96 yet mortgage approvals averaged over 80,000 per month at that time, the lowest point being 69,000 in June 1995.

Take a look at the graph on this page, and the figures that go with it to see that 42,000 approvals a month is absolutely shocking especially as we are seeing Spring's figures coming through.

http://www.housepricecrash.co.uk/graphs-mortgage-approvals.php

It can only be looked on as a positive compared to the apocalyptic figures from late last year, it also proves the massive funding gap that is still apparent even though the government is giving away billions in future tax receipts to try and prop up the market. It will end in tears, mark my words.

pickles110564

pizzagirl wrote: »

You can seasonly adjust all you want. There's a massive gulf between 43,000 and 100,000+ mortgage approvals.

This is good news for the long suffering EA's and for the self employed people that put out and change the For Sale Boards.

chucky

ad9898 wrote: »

Lets just put things in perspective with these approvals of 42,000, I have posted a link below which shows BoE mortgage approvals back to April 1993, house prices were still falling between then and '96 yet mortgage approvals averaged over 80,000 per month at that time, the lowest point being 69,000 in June 1995.

Take a look at the graph on this page, and the figures that go with it to see that 42,000 approvals a month is absolutely shocking especially as we are seeing Spring's figures coming through.

http://www.housepricecrash.co.uk/graphs-mortgage-approvals.php

It can only be looked on as a positive compared to the apocalyptic figures from late last year, it also proves the massive funding gap that is still apparent even though the government is giving away billions in future tax receipts to try and prop up the market. It will end in tears, mark my words.

your graph is too one-dimensional Ad - it just shows the ups and downs. you should know by now that sourcing data from HPC.co.uk has it's own agenda...

have a look at this chart, also posted it elsewhere and it will explain why your comments "mortgage approvals back to April 1993, house prices were still falling between then and '96 yet mortgage approvals averaged over 80,000 per month at that time, the lowest point being 69,000 in June 1995" don't have much relevence due to the house sales also being driven by cash purchases or very low LTV's during that period.