Financial Briefs

Breaking financial news from Wall Street to Main Street

Mortgage Lending Halves In Month

Posted by financialbriefs on September 23, 2008

Approvals for house buying were down to 21,086 in August.  This compared with 22,239 in July, said the British Bankers’ Association.Meanwhile, net mortgage lending, which strips out redemptions and repayments, dived to just £2.1bn during the month.  That was less than half of July’s £4.8bn, and the lowest level since February 2001.

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