Wholesale mortgage market to return in 2011 - IMLA

The Intermediary Mortgage Lenders' Association's (IMLA) latest survey of its members, found a similar proportion (73 %) said the British economy would start to strengthen in 2010. The IMLA research also revealed intermediary lenders expect Libor spreads to narrow gradually over the coming year. Currently 3-month Libor hovers at about 1% above Bank base rate. IMLA members forecast the 3-month Libor spread to reduce to around 75 basis points by the end of 2009. Peter Williams, executive director of IMLA, said: "It might feel as though the past eighteen months have been a mortgage apocalyp...