Confidence in housing market drops - Woolwich

The Woolwich, which a part of the Barclays Group, says consumer confidence in June dropped for the first time since December last year, falling from 67% in May to 65%. Rising interest rates and BoE governor Mervyn King's warning house price may fall seem to have spur the drop, the Woolwich suggests. Andy Gray, head of mortgages at Barclays and The Woolwich, says: "This drop in confidence was inevitable. The combination of two consecutive monthly rate rises and Mervyn King's warning to prospective homebuyers of a potential fall in the housing market has undoubtedly unsettled the marke...