Mortgage approval rate falls 60% - Halifax/BoE

Aug. 8, 2008
The number of mortgage approvals used to buy houses has fallen 60%, Halifax revealed in its latest house price index. The lender cited Bank of England data which compared last year’s mortgage levels in quarter two to those of this year. Meanwhile, house prices fell 1.7% in July, Halifax reported. The drop was smaller than the falls of both the …

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