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Fear that mortgage lending will be negative

Posted on 22 October 2008

From FT: More money is set to be taken out of the housing market than is being put back in for the first time in more than 20 years, economists warned.

Net mortgage lending – the value of new loans extended minus repayments of principal – could turn negative by the end of the year, economists said following data on mortgage outlays from the Council of Mortgage Lenders. That has not happened since the CML began collecting data in 1987….. Full Article: Source


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