The CML (council for mortgage lenders) says mortgages rose to 53,200 in April and up 33% on a year earlier. Home purchase loan values was up 11% on March at £8.8bn.
The BOE are starting to get a little twitchy over the housing situation and while they won’t take direct policy action they will be looking at what can be done if they need to cool things off. Yesterday BOE’s Ben Broadbent said that household indebtedness is a concern for them when they finally look to raise rates.
