Mortgage Approvals down, down, down

Story link: Mortgage Approvals down, down, down

Its not really the time of year for purchasing houses, so of course the approvals are going to be down on last months, but it would be interesting to see what the approval rates were this time last year.

Mortgage Approvals down, down, down

The number of mortgages approved for home purchase slumped to a fresh record low in November, with the seasonally-adjusted number falling to 17,773 — almost 61 percent down on the same time last year.
Mortgage approvals are now barely one third of the average level at the peak of the housing market in 2007, the data from the British Bankers’ Association showed.