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Mortgage lending fall undermines recovery hopes

«134

Comments

  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    carolt wrote: »
    http://business.timesonline.co.uk/tol/business/economics/article6526956.ece

    And yes, the title's theirs, not mine. :rolleyes:

    Did you read this bit?

    “Underneath the headline gross lending figure, it’s likely that a moderate improvement in house purchase lending in May has been offset by very low remortgaging volumes as borrowers stay with existing deals."
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    Dan: wrote: »
    Did you read this bit?

    “Underneath the headline gross lending figure, it’s likely that a moderate improvement in house purchase lending in May has been offset by very low remortgaging volumes as borrowers stay with existing deals."
    Yup. I heard it on t'radio. The VI's are in Spin meltdown at the moment. Admittedly they have one or two straws to clutch to, but they are blowing up the 'recovery' out of all common sense.
  • Harry_Powell
    Harry_Powell Posts: 2,089 Forumite
    edited 18 June 2009 at 7:44PM
    From what I could make out, this article is more about the recovery in the mortgage lending market than in the housing market. I must admit that if I had a mortgage I'd be happy to stay put on SVR with rates being so low. There are a lot of articles in the press on how BoE rates will be staying at 0.5% for the forseeable future, so unless people are looking at long term fixes (which are now a pretty poor deal) they're going to stay on their current deals.
    "I can hear you whisperin', children, so I know you're down there. I can feel myself gettin' awful mad. I'm out of patience, children. I'm coming to find you now." - Harry Powell, Night of the Hunter, 1955.
  • bluey890
    bluey890 Posts: 1,020 Forumite
    If inflation comes accompanied by low interest rates (in order to devalue the nations debt).
    You'll be sorry for not buying a home.
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
  • Harry_Powell
    Harry_Powell Posts: 2,089 Forumite
    bluey890 wrote: »
    If inflation comes accompanied by low interest rates (in order to devalue the nations debt).
    You'll be sorry for not buying a home.

    Gimme a chance mate, I have only been seriously looking for a couple of weeks. :D
    "I can hear you whisperin', children, so I know you're down there. I can feel myself gettin' awful mad. I'm out of patience, children. I'm coming to find you now." - Harry Powell, Night of the Hunter, 1955.
  • DiggerUK
    DiggerUK Posts: 4,992 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I see dead shoots.
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    bluey890 wrote: »
    If inflation comes accompanied by low interest rates (in order to devalue the nations debt).
    You'll be sorry for not buying a home.

    This is not likely to happen, if it did, the bond market would collapse, and then it's hello IMF.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    bluey890 wrote: »
    If inflation comes accompanied by low interest rates (in order to devalue the nations debt).
    You'll be sorry for not buying a home.

    Would also devalue the bond/gilt holders investment.

    Not gonna happen, sorry.
  • bluey890
    bluey890 Posts: 1,020 Forumite
    edited 18 June 2009 at 8:46PM
    IMF bailout or further QE is a possibility.

    ETA: why do you think the dollars being 'sold'. Sterling could follow suit.
    ETA2: starting to sound a little too like wookieboy so will stop here.
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    ad9898 wrote: »
    This is not likely to happen, if it did, the bond market would collapse, and then it's hello IMF.
    And goodbye MF.
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