House purchase loans rise
www.moneynews.co.uk > Housing market > House purchase loans rise
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Money News |
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House purchase loans rise
Thu 4th Jan 2007
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There was a five per cent rise compared with the average for the six months leading up to November and lending in total equated to £10.87 billion.
Some experts are predicting that the Bank of England may once more raise interest rates in a bid to cool down a seeming buoyant economy, following two rate hikes during last year.
Howard Archer, chief UK economist at Global Insight, explained to the Times: "It is too early to judge whether or not November's further increase in interest rates will have a significant dampening effect.
"We suspect that with so many people stretched to the limit in buying a house, even a modestly small cumulative rise in interest rates will ultimately have a substantial dampening impact on housing market activity."
Nationwide Building Society figures discovered that last month, house price inflation hit a two year high, increasing by ten and a half per cent.
Related News : Housing market |
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