I read in the latest news reports that at the end of December 2007, the number of mortgages being approved had dropped to 73,000, that’s the 7th month the rates of mortgages being taken out has dropped.
FinanceLocator wonders:
Whilst approval rates are dropping, could it just be that many people are opting to stay put or rent until the whole market settles down?
Another suggestion it makes, is to actually improve your current home instead of moving.
The benefits of a home improvement loan sound very appealing compared to the stress, worry and hassle brought on by selling and buying houses. Especially during these current turbulent times.
Read the full article at Reduction of Mortgage Approval rates
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