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|Comment from Phoebus on the CML Gross mortgage lending figures for July|
|Thursday, 20 August 2015|
Richard Pike, Phoebus Software sales and marketing director, says: “Mortgage lending last month looks like it was the highest since July 2008, which shows an overall appetite to borrow and lend. Interest rates are still at an all time low and while this remains the case activity in the housing market is likely to be buoyant. Lenders are still offering great rates for borrowers in all areas of the market so people are moving, buying for the first time and remortgaging to take advantage of the deals on offer, before interest rates rise.
“Although predictions vary, will it be this year, next year, when? The economic forces seem to shift every week and making any kind of a prediction is probably unwise. The only thing that is certain at the moment is that while talk remains about interest rate rises people will want to make hay while the sun shines.”
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