Housing Market Is Facing 'Double Dip' ; New Mortgage Lending Slump Sparks Fears

The Journal › September 01, 2010

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Summary

ECONOMISTS last night warned that the housing market is heading for a double dip as mortgage lending slumped.

Figures from the Bank of England showed that mortgage advances in July dropped to their fourth lowest level since records began, once redemption and repayments were taken into account.

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Extract

Housing Market Is Facing 'Double Dip' ; New Mortgage Lending Slump Sparks Fears

Lending levels showed little sign of picking up, with just 48,722 home loans approved for house purchase during the month, up only slightly on June's figure and...

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