CML calls on BoE to resist temptation to raise rates

The CML figures released today show a slight increase in gross mortgage lending, up 2% in April at £21.5bn. But the figures for April were still 14% below those for the same period last year when gross mortgage lending stood at £25bn. Michael Coogan, director general of the CML, says the figures remain in line with its broad expectations for this year. But he warned the Bank of England off increasing interest rates when it next meets on 2 June saying: “It now seems clear that the market has stabilised at its new lower level, and we expect to see a continued soft landing as long as...