House purchase loans reach 22-month high: CML

The number of loans for house purchase reached 55,000 in October. The amount of buyers has risen from a trough in January 2009 when only 23,000 loans were advanced. It is now up nearly 100% from that low point. However, this pattern of increase was not repeated with loans for remortgaging which have stayed static for two months at 33,000. Fixed rate mortgages are continuing their downward trend from a high in July, when 80% of all new loans taken out were fixed. In October, this had decreased by 14% to 66%. Tracker mortgages, however, are on the rise with 21% of all new loans being tr...