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英国住房抵押贷款批准的数量下降到Record Low
The number of mortgages approved in the U.K. during the first month of the second quarter was the least on nearly two decades of record, suggesting that the weak housing recovery could start to hit the country’s banks, according to The Daily Telegraph.
The number of mortgages approved in the U.K. during the first month of the second quarter was the least on nearly two decades of record, suggesting that the weak housing recovery could start to hit the country’s banks, according toThe Daily Telegraph. On Thursday, theBank of Englandreported that approvals for home purchases dropped by 2,000 in April from the previous month to 45,166, which reversed some improvements since a 20-month low was recorded in December. The figure represented the worst April on records dating back to 1993.
The level of loans is closely correlated with housing prices, andNida AliofErnst & Young ITEM Clubsaid, “A fall in mortgage approvals, from already depressed levels, certainly isn’t a good sign for the housing market.” Additionally,Morgan Stanleyeconomists have predicted that property values will drop by 10% by the end of 2012, warning that the struggling housing market will start to negatively impact the profitability of the country’s leading banks in the next six months. However, theCouncil of Mortgage Lendersexpects that mortgage lending will increase in 2011 for the first time in five years.