Possibly some good news? According to Money Magic:
"January saw an 11 per cent increase in gross mortgage lending despite the fact that it is usually lower in January than other months of the year, according to a new report. A report from the Council of Mortgage Lenders (CML) has revealed that the lending increased to an estimated £26 .5 billion last month, which was 11 per cent higher than December."
This is potentially encouraging news for lenders, buyers and sellers alike. If the market can continue to show gains, recession could be avoided. While this isn’t 100% applicable to the US markets, it could be a trend that makes it way over to us soon.
Cross your fingers.
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