Nationwide Feb +0.3%

doire_2

HAMISH_MCTAVISH wrote: »

Wrong again AD....

LONDON (Reuters) - Mortgage approvals picked up more than expected in January and mortgage lending rose to its highest in almost a year, Bank of England figures showed on Tuesday.

The Bank of England said mortgage approvals numbered 45,723 in January, up from 42,719 in December, a month that had been impacted by the country's harshest cold snap in one hundred years. Analysts had forecast a reading of 43,000.

The figures tally with a survey from mortgage lender Nationwide on Tuesday which showed house prices rose unexpectedly in February.

Selective posting Hamish?

However mortgage approvals are still running at only half their long-run average and few expect the housing market to gather pace in the coming months.

There was a333 million pound contraction in consumer credit, suggesting Britons are keen to pay down debt at a time of public spending cuts and tax rises.

M4 money supply grew by 0.8 percent on the month but contracted 1.7 percent on the year, the fastest annual contraction since the series began in 1983.

HAMISH_MCTAVISH

doire wrote: »

Selective posting Hamish?

Nope. Just relevant posting.

AD claimed approvals were currently falling.

AD was wrong.

[/debate]

Mallotum_X

HAMISH_MCTAVISH wrote: »

Nope. Just relevant posting.

AD claimed approvals were currently falling.

AD was wrong.

[/debate]

Comparing two months alone?


http://www.housepricecrash.co.uk/graphs-mortgage-approvals.php
I know HPC is not a well liked site by some but the stats are compiled (and referenced) quite neatly here.

Mortgage approvals were pretty flat for most of 2010, before crashing in December, and showing a small increase in January.
Its far to early to say if the modest increase in January is a trend or a blip.

joguest

The size of the average mortgage being approved by members of the British Banking Association fell by 5% last month (from December). Hardly rosy.

http://www.bba.org.uk/media/article/january-figures-for-the-main-high-street-banks2

Nikel

joguest wrote: »

The size of the average mortgage being approved by members of the British Banking Association fell by 5% last month (from December).

Thanks, thats what i wanted to know.

Sibley

Sibley, humiliation is being married to an ex hooker

Ex hookers make good wives. I bet my wifes a lot prettier than your missus.

geneer

Mortgage approvals for february would be for offers made in December/January right?
Nope, can't see any reason why the market response might not be typical over this period.

HAMISH_MCTAVISH wrote: »

The 3 month on 3 month has now dropped to -0.1%.

Still falling then.

abaxas

So let me get this right,

Total mortgages is increasing when the average value is decreasing.
Home values are decreasing but seasonal adjustment is increasing.

And this is a bull story?

gazfen2279

There`s Some Crazy People On This Board , Talking To Them Selves,

Coeus

Stagnation is good for me! Let house prices rise, and let them fall. Keep this up for the next 3 years, as most believe it will, and I will be as happy as a pig in !!!!!!.

Building one fat a$$ deposit at the moment - could buy now or I could continue to ride the stagnation wave and build an even bigger deposit! Will be mortgage free (if any mortgage needed at all!) in no time at this rate.

Interest rates are one to watch though, but then again timing is on my side as a FTB. Bide my time and I won't even need a mortgage! 100% equity baby

The big bonus at the end of this all? 3+ years time the economy will be decided (recovery hopefully) - disposable income will rise as will house prices once again. Win win for me, especially being at the start of my professional career

Happy times!