UK House Prices -The next bubble waiting to burst ??
dr agon - Tue, 03 Jan 06 :
does look like peeps finally coming to their senses though!!
Mortgage equity withdrawal falls
Tue Jan 3, 2006 9:47 AM GMT
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LONDON (Reuters) - Mortgage equity withdrawal fell to 8.276 billion pounds in the third quarter of last year from 10.001 billion in the second quarter, the Bank of England said on Tuesday.
That was also much lower than the 12.377 billion pounds of equity Britons took out from their homes a year earlier.
Sharply rising house prices in the last few years had encouraged a trend of refinancing mortgages to extract cash which many economists say had helped support spending.
But house price inflation has slowed sharply since the middle of 2004 along with mortgage equity withdrawal.
