Demand for home loans hit by rising mortgage interest rates Larry Elliott
High house prices and rising interest rates put the brakes on demand for mortgages from Britain's high-street banks, according to figures released yesterday.
Data from the
British Bankers Association showed that almost 65,000 loans for house purchases were approved last month, down from just over 75,000 in March and 1% higher than in April 2006.
The BBA said net mortgage lending by its members fell from £5.1bn to £5bn in April and was down on the £5.4bn average of the past six months.
Source: http://money.guardian.co.uk/news_/story/0,,2091132,00.html
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