Purchase Business Highest proportion for decades

In July 2010, the proportion of purchase business transacted by John Charcol was the highest it has been for many, many years.  Click here for the full report.

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Purchase Business Highest proportion for decades

In July 2010, the proportion of purchase business transacted by John Charcol was the highest it has been for many, many years.  Click here for the full report.

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My thoughts on the Policy Exchange forecast of Bank Rate at 8% in 2012

No doubt the reason Andrew Lilico, Chief Economist of Policy Exchange, which calls itself a think tank, chose to issue his paper forecasting Bank Rate would rise to 8% in 2012 this week is that in the August silly season when real political news is thin on the ground it is much easier to grab some headlines by publishing an outrageous forecast than when senior politicians are around to rubbish such forecasts. Policy Exchange must be desperate for some publicity!

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My thoughts on the Policy Exchange forecast of Bank Rate at 8% in 2012

No doubt the reason Andrew Lilico, Chief Economist of Policy Exchange, which calls itself a think tank, chose to issue his paper forecasting Bank Rate would rise to 8% in 2012 this week is that in the August silly season when real political news is thin on the ground it is much easier to grab some headlines by publishing an outrageous forecast than when senior politicians are around to rubbish such forecasts. Policy Exchange must be desperate for some publicity!

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My Thoughts on Policy Exchange’s forecast of an 8% Bank Rate in 2012

No doubt the reason Andrew Lilico, Chief Economist of Policy Exchange, which calls itself a think tank, chose to issue his paper forecasting Bank Rate would rise to 8% in 2012 this week is that in the August silly season when real political news is thin on the ground it is much easier to grab some headlines by publishing an outrageous forecast than when senior politicians are around to rubbish such forecasts. Policy Exchange must be desperate for some publicity!

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After the Credit Crunch now The FSA Threatens the Economic Recovery

Gross mortgage lending has fallen 61% from a peak of £362.6bn in 2007 to £142.6bn in 2009 and the 2010 figure is likely to be similar. Net lending has collapsed from £108bn in 2007 to £11.5bn last year, but net lending last year by banks was £36bn, a fall of about 50% from its peak, whilst there was negative net lending from the specialist lenders and, to a lesser extent, the building societies, of about £25bn.

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After the Credit Crunch now The FSA Threatens the Economic Recovery

Gross mortgage lending has fallen 61% from a peak of £362.6bn in 2007 to £142.6bn in 2009 and the 2010 figure is likely to be similar. Net lending has collapsed from £108bn in 2007 to £11.5bn last year, but net lending last year by banks was £36bn, a fall of about 50% from its peak, whilst there was negative net lending from the specialist lenders and, to a lesser extent, the building societies, of about £25bn.

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Impact of the Quarterly Inflation Report

Gilt yields have fallen sharply today, with the yield on 4 - 10 year gilts lower by around 11 basis points (0.11%). This follows yesterday evening's statement by the Fed and today's Quarterly Inflation Report from the Bank of England. This will push swap rates similarly lower and open the door for lenders to cut fixed rates further, although some will no doubt prefer to rely on the very limited amount of competition to fatten their margins instead. However, there must now be a good chance of a little more competition before the end of the month in the sub 4% 5 year fixed rate market.

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Impact of the Quarterly Inflation Report

Gilt yields have fallen sharply today, with the yield on 4 - 10 year gilts lower by around 11 basis points (0.11%). This follows yesterday evening's statement by the Fed and today's Quarterly Inflation Report from the Bank of England. This will push swap rates similarly lower and open the door for lenders to cut fixed rates further, although some will no doubt prefer to rely on the very limited amount of competition to fatten their margins instead. However, there must now be a good chance of a little more competition before the end of the month in the sub 4% 5 year fixed rate market.

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It’s anyones guess…

Another great example of the never ending contradictions that are house price and mortgage reports.

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