Mortgage Borrowing the Lowest Since February 2000 in Januaray
February 19th, 2010 by 
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Gross mortgage borrowing dropped by 21 % year-on-year to £9.1 billion in January this year, the Council of Mortgage Lenders said yesterday.
That showed a 32% drop from December’s level and was the lowest monthly total since February 2000.
The CML said the larger than average drop in January suggested house purchase activity was boosted in December by borrowers rushing to complete house purchases before the end of the stamp duty holiday.
“We remain in a period of uncertainty for the housing market and the economy at large,” said CML economist Paul Samter.
“The market certainly improved over the second half of last year and started 2010 in better shape than most would have predicted twelve months ago.”
Posted in Mortgage news | 