Seemingly there is a further green shoot of recovery popping up today, as the Times reports that mortgage approvals rose by 4% in February.
The Council of Mortgage Lenders (CML) stated that 24,300 mortgages were approved in February, in January 23,400 were approved.
The figures for March will make interesting reading, to see if this trend is continuing. However, as noted before, the time lag between the period covered by the statistics and the date that they are actually reported does not exactly provide a useful "real time" picture of the economy.
It's good that mortgages are back on the rise. Hopefully this means a bottom in housing prices to protect homeowners from going further underwater on their mortgages.
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