March 3, 2009
Mortgage approvals are stable
Story link: Mortgage approvals are stable
Mortgage approvals are now stabilizing around the 31,000 per month mark, which they have done for the last 6 months now. The problem is, since hitting and becoming stable at the 31,000 per month mark, the property market has seen no signs of recovery, so
The number of mortgage approvals in January for house purchases held steady at 31,000 the Bank of England has said.
And although approvals are still less than half the level of a year ago, they have now averaged 31,000 a month for the past six months.