Mortgage Approvals Fall Again
Figures yesteday showed that mortgage approvals fellin February, for the 3rd month in a row. While the number of approvals fell by just 1,000, it is the trend over the past few months that reflects the overall slowdown in the housing market. There was a sharper fall in January with the end fo the stamp duty relief and February looks to be a continuation of this slowdown. We expect this fall of new mortgages to reflect a subdued period in house price sales and inflation.
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