CML Figures show slight mortgages increase in July

New Council of Mortgage Lenders figures show a 5% increase in July compared to the previous month.

The Guardian interprets this as the slump continuing – whereas the Press Association sees things with a slightly more positive outlook.

Gross mortgage lending totalled an estimated £24.8 billion in July, up 5% from June and down 27% from July a year ago, according to the Council of Mortgage Lenders.

Bob Pannell, CML head of research, said:

“While there was a small month-on-month increase in activity, it represented a notable decline from a year ago. This continues the weaker picture seen in June and points towards the more subdued levels of lending we are likely to see in the second half of 2008.”

CML Report

• Gross lending table – July 2008
  XLS 20kb

Related Resources

• The Council of Mortgage Lenders
• The Guardian
• The Press Association
• Think Money