Tag Archives:

mortgage approvals

Free falling

Today’s mortgage approvals numbers came out at a record low (see this comment for why we love mortgage approvals so much). Weakening mortgage approvals is no surprise – the housing psychology is moving to a bear market from a buyers perspective, and the mortgage lenders are strapped for cash so the number of willing providers of finance is collapsing. But it’s the pace of the decline that is st…

Read the article

How much do homeowners stand to lose on the UK housing market?

At the beginning of October last year, Richard asked “Is the UK housing market on the brink?” (read article here). Conclusion – little danger of collapse in the short term, but any dropping away of mortgage approvals would change this view. By the end of November, mortgage approvals had indeed started to fall sharply, and Richard said the UK housing market was “over the edge” (see article). Mor… Read the article

Housing market : Down down, deeper and down

The US housing market is getting worse and worse, and the UK looks set to follow it.

Yesterday saw the monthly update on the disaster that is the US housing market. Figures showed that the downturn is accelerating – the S&P/Case-Shiller Composite-20 Index showed that the US house prices fell 7.7% in the year to the end of last November. The S&P/Case-Shiller Composite-10 Index (which covers the …

Read the article