Mortgage approvals in surprise 6.6% rise.

Generali

Really2 wrote: »

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

Total 35,300

up 6.6% on previous month

up 9.2% on forecast

Surprised it was not reported yet, or am I.

The BoE has mortgage approvals up 0.9% YoY

http://www.bankofengland.co.uk/statistics/li/current/index.htm

The BBA has a 16% increase in mortgage approvals YoY

http://www.lse.co.uk/FinanceNews.asp?ArticleCode=f6eph4ra8vexh3m&ArticleHeadline=TABLEUK_mortgage_approvals_up_16_pct_yy_in_Oct__BBA

JonnyBravo

WHAT??!!!!

There should be no positive news EVER!

You make me laugh shortchanged.

Aberdeenangarse

Homeowners are facing a toxic combination of spiralling mortgage rates and plunging prices as the eurozone crisis grips the UK
.
Banks are hiking the price of home loans as they are forced to pass on increases in the cost of money they use to fund deals
.
In some cases, the total cost of a three-year deal has risen by almost £1,300 in the past week.

http://www.dailymail.co.uk/money/mortgageshome/article-2064902/Home-loan-costs-soar-euro-crisis-sees-banks-hike-mortgage-rates.html

Told you so:whistle:

Aberdeenangarse wrote: »

Barclays / Woolwich have already started increasing some of their Mortgage rates, others likely to follow within the next couple of weeks.

Conrad

shortchanged wrote: »

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

Anecdotal evidence should never be discounted, it's often far more meaningful than 'expert' academia which is typicaly rear view mirror stuff that does not take account of the reality at the coal face.

My own current experience is that B2L is getting ever more resiliant as ordinary folk chose to invest in it - they aren't like some of you goldbug types on here, they are simple folk who stick with the only thing they know. 99% of them sustain thier properties so this oft trumpeted notion they are numpties is wide of the mark.

They don't care if it's not the absolute 'best' investment, they are in no position to make just guesses, they just stick with simple things.

shortchanged_2

JonnyBravo wrote: »

WHAT??!!!!

There should be no positive news EVER!

You make me laugh shortchanged.

That's what I'm here for during these times of doom and gloom.

andybenw

Conrad wrote: »

Anecdotal evidence should never be discounted, it's often far more meaningful than 'expert' academia which is typicaly rear view mirror stuff that does not take account of the reality at the coal face.

My own current experience is that B2L is getting ever more resiliant as ordinary folk chose to invest in it - they aren't like some of you goldbug types on here, they are simple folk who stick with the only thing they know. 99% of them sustain thier properties so this oft trumpeted notion they are numpties is wide of the mark.

They don't care if it's not the absolute 'best' investment, they are in no position to make just guesses, they just stick with simple things.

Certainly in my area I am seeing more sold signs around. Also the really cheap properties appearing on rightmove seem to have fizzled out at present. I am assuming that this is a mixture of landlords and tired of waiting FTB's snapping these up.

I doubt we will see rises for a long time yet, but those looking for a crash may be dissappointed also. Stagnation is the way ahead for a considerable time yet I feel.

doire_2

wotsthat wrote: »

Tell you what - I'm not surprised.

I've reported my anecdotal evidence from my estate a couple of times in the last few weeks. I've seen more sold signs in the last few weeks than I've seen in the last year.

It's all from quite a low base and it's a single month but I expect this trend to continue.

The thing about anecdotal evidence is anyone can make it up :D

MrRee_2

It's what I've said for a month now ....... everything is SOLD!

Those who don't think so are blind ... the good times are back!

shortchanged_2

MrRee wrote: »

It's what I've said for a month now ....... everything is SOLD!

Those who don't think so are blind ... the good times are back!

OK MrRee the joke is wearing a bit thin now. We've all had a good laugh about it but enough is enough now.

wotsthat

doire wrote: »

The thing about anecdotal evidence is anyone can make it up :D

Hairy muff however, If I was going to make things up rather than go for...

I've reported my anecdotal evidence from my estate a couple of times in the last few weeks. I've seen more sold signs in the last few weeks than I've seen in the last year.

I would have gone for

Well where I live houses are selling in 5 minutes flat at 10% over asking price. In fact I'd like to move to Sandbanks but there are only crappy £1m properties left. Looks like I've missed the boat but luckily I'm considerably richer than everyone else on this board