Mortgage Green Shoots.....

HAMISH_MCTAVISH

Confidence in the property market seems to be growing as more people look for mortgages.

More people are searching for mortgages to purchase a property than those looking to remortgage existing properties according to figures from moneysupermarket.com.

The price comparison site monitors user search behaviour and has seen a 20% rise in the number of searches for house purchase mortgages since January.

In the same period, searches for remortgages fell by a third, which indicates a shift in sentiment as confidence in the property market grows.
Although house buyers seem to be more confident about the prospects for house prices, moneysupermarket.com does sound a warning about future interest rises.

The huge borrowing levels by the Government are bound to drive interest rates higher in the months to come and this should be factored into buyers mortgage affordability calculations.

Hannah-Mercedes Skenfield, mortgage spokesperson at moneysupermarket.com said; “Our figures provide fresh evidence that appetite to buy a house is coming back into the market. Perhaps the public is becoming convinced that prices have stabilised.”

“First time buyers who have saved a deposit and home owners looking to step up the housing ladder may therefore be looking to take advantage of the current low price environment with a view that prices cannot fall any further.

“We have seen a steady decline during 2009 in the number of people looking to remortgage their existing property however August reached a new height where consumers looking to purchase have exceeded those looking to remortgage.”

This uptick in demand is stronger than I thought it would be. If it continues, the winter falls may be smaller than expected.

skap7309

HAMISH_MCTAVISH wrote: »

This uptick in demand is stronger than I thought it would be. If it continues, the winter falls may be smaller than expected.

I was going to thank this thread hamish - however upon further inspection it is a seriously pointless post. I search moneysupermarket weekly as i have done for the past 18 months or so to see what i can get for my money, doesnt mean i am about to buy though. More through curiosity. I am aware that some of these searches would turn into people getting mortgages however the article is hardly news.

Maybe i could start one on how we have been monitoring an upsurge of window shopping in the high street. It is exactly that though - people would happily be on the other side of the window in the shop buying the goods, if they aint got the money though.............

HAMISH_MCTAVISH

skap7309 wrote: »

I was going to thank this thread hamish - however upon further inspection it is a seriously pointless post. I search moneysupermarket weekly as i have done for the past 18 months or so to see what i can get for my money, doesnt mean i am about to buy though. More through curiosity. I am aware that some of these searches would turn into people getting mortgages however the article is hardly news.

Maybe i could start one on how we have been monitoring an upsurge of window shopping in the high street. It is exactly that though - people would happily be on the other side of the window in the shop buying the goods, if they aint got the money though.............

Except that this article is confirmed by the BOE data on mortgage approvals, which have also been rising steadily for months.

The fact that moneysupermarket reports interest in mortgage applications for purchase are still rising, could well be a useful lead indicator.

For approvals to fall, and purchases to fall, and then prices to fall, one would expect that applications would have to fall first....

bendix

Oh god, please make it STOPPPP.

Everyday, the same old crap. Hamish and the bulls eagerly scour the web for any opinion piece which supports their view, swiftly countered by shakerbaby and the bears doing the same to support their view.

Where is the intellectual value in this? Where is the insight in just seeking out arguments to support your views / personal interest, and studiously ignoring articles that post the opposite view?

I just don't get it. It is so f****g tedious.

inspector_monkfish

I stopped at 'Hannah-Mercedes'......:rotfl:

skap7309

bendix wrote: »

Oh god, please make it STOPPPP.

Everyday, the same old crap. Hamish and the bulls eagerly scour the web for any opinion piece which supports their view, swiftly countered by shakerbaby and the bears doing the same to support their view.

Where is the intellectual value in this? Where is the insight in just seeking out arguments to support your views / personal interest, and studiously ignoring articles that post the opposite view?

I just don't get it. It is so f****g tedious.

Hmmm. I do agree however as mentioned i very nearly, being an uber bear, agreed with an uber bull. It is not seeking out an argument - id leave it to (insert user names here) to do that. The fact of the matter is the article was, in large, highly pointless.

Finally, it is a debate forum so the fact that debates break out is hardly surprising?