Housing and mortgage market activity is softening in response to rising interest rates

March 2007
Credit Control;2007, Vol. 28 Issue 3, p43
Trade Publication
The article reports on the situation concerning activities surrounding housing and mortgage market in Great Britain. According to the Council of Mortgage Lenders (CML), the number of mortgage approvals for house purchase was registered 15% the lowest level since April of 2006. CML also indicated that a typical first-time buyer is facing levels of mortgage interest payments relative to income in the early 1990s.


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