Mortgage approvals in surprise 6.6% rise.

Really2

http://www.forexpros.com/news/economic-indicators/u.k.-bba-mortgage-approvals-rise-unexpectedly-227214

Mortgage approvals in the U.K. rose unexpectedly in October, industry data showed on Wednesday.

In a report, the British Banker's Association said that the number of new mortgages approved in October rose to 35.3K from 33.5K in September, whose figure was revised up from 33.1K.

Analysts had expected mortgage approvals to decline to 32.3K in October.

Total 35,300

up 6.6% on previous month

up 9.2% on forecast

Surprised it was not reported yet, or am I.

shortchanged_2

Great, things are looking all rosy in the housing market. Boom times ahead.

Really2

A tad bitter really, as no one has said that.

Just thought some house selling related data may be of interest for the house price and economy debate board?

Wrong type of data perhaps? or incorrect or Spin and Bull !!!!!!. I think they cover the main responses to rises.

shortchanged_2

Really2 wrote: »

A tad bitter really, as no one has said that.

Just thought some house selling related data may be of interest for the house price debate board?

Wrong type of data perhaps? or incorrect or Spin and Bull !!!!!!. I think they cover the main responses to rises.

The figures are probably perfectly correct.

I'm just waiting with anticipation to see the subsequent boom in prices that many on here are wishing for.

Graham_Devon

Really2 wrote: »

A tad bitter really, as no one has said that.

Just thought some house selling related data may be of interest for the house price and economy debate board?

Wrong type of data perhaps? or incorrect or Spin and Bull !!!!!!. I think they cover the main responses to rises.

"Please fight back"

Really2

shortchanged wrote: »

I'm just waiting with anticipation to see the subsequent boom in prices that many on here are wishing for.

aah, I missed that, was that a perceived stance based on posting a bit of positive data.

I see no boom, but I don't only post negative stories. I think that is where the majority on here here get their wires crossed.

Not being obsessive about negative data does not mean people predict boom times ahead.

People know my stance, my stance as been over bearish on house prices since I joined in reality. (25%-35 % nominal falls at the start, stagnant 09, stagnant to -5% 2010, -5% to -7% falls 2011)
Just not as far off as the majority.;)

Really2

Graham_Devon wrote: »

"Please fight back"

or?

shortchanged wrote: »

Great, things are looking all rosy in the housing market. Boom times ahead.

Selective posting I see GD, glad you are never going to disappoint.


Not like you to start playing the man, not the data is it.....:D

shortchanged_2

Yes and I'm waiting for the glut of usual suspect rampers to jump on this piece of news and hail it as the new messiah of the property market.

wotsthat

shortchanged wrote: »

I'm just waiting with anticipation to see the subsequent boom in prices that many on here are wishing for.

I doubt that there are many here realistically expecting a boom in prices whatever they might wish for. In the real world most buyers just don't want to end up in negative equity or pay rent into their dotage.

Thrugelmir

up 6.6% on previous month

Could just be that this increase reflects the increased level remortgaging activity that the BOE statistics for September reported (up around 3,800).

chucknorris

wotsthat wrote: »

I doubt that there are many here realistically expecting a boom in prices whatever they might wish for. In the real world most buyers just don't want to end up in negative equity or pay rent into their dotage.

I'm hoping for a decent market in about 12 years time.