Mortgage lending increased in February - CML
Friday, 19 March 2010 10:52AM
Mortgage lending increased in February - CML
It noted that the end of the stamp duty holiday will have distorted figures slightly, as an increase is often unheard of during the shortest month of the year.
"With activity unlikely to pick up much in the short term, we would expect to see continuing price fluctuation in the coming months," observed CML Economist Paul Samter.
He added that once the election is over, there is likely to be a restoration of confidence in the mortgage market.
Figures from Nationwide show that house prices fell by 1% month-on-month in February, which it believes may be explained by snowy weather and expiry of stamp duty holiday.
The company stressed it is too early to say whether February's drop is the start of a new trend.
Posted by Martin Ellis
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