Market commentary from Council of Mortgage Lenders

Citation

(2011), "Market commentary from Council of Mortgage Lenders", Structural Survey, Vol. 29 No. 1. https://doi.org/10.1108/ss.2011.11029aab.006

Market commentary from Council of Mortgage Lenders

Article Type: Newsbriefs From: Structural Survey, Volume 29, Issue 1

Keywords: Economy, Houses, Mortgages

After the chaos of 2008 and the recession of 2009, 2010 proved to be a year of greater stability and promise than might have seemed likely at the start of the year. The prospect for 2011 is one of continued recovery from the aftermath of the banking crisis but the strong pace of growth achieved during the summer is unlikely to be maintained. Growth in the first half of 2011 is likely to prove particularly sluggish. Against this unpromising economic background, mortgage lending is unlikely to show any significant rise from the levels achieved this year. The market has proved surprisingly stable for much of the year: both demand for mortgage borrowing and the supply of funds for lending have been markedly constrained. None of the factors influencing the market appears likely to see any great change during 2011. Without any such impetus, lending will merely maintain its current modest level.