BoE holds rates, but mortgages shine again

Mark Carney large
By Tom Porter
08 May 2014

The Bank of England sprung no surprises on Thursday and held interest rates at 0.5%, but new figures showing arrears continuing to fall are the latest in a run of strong data that has some BoE policymakers agitating for action to cool the housing market.

The Council of Mortgage Lenders — whose members account for 95% of all UK mortgage lending — said on Thursday that at 138,000 and 1.24%, both the number and proportion of mortgages with arrears of more than 2.5% of the mortgage balance hit their lowest level since the second quarter ...

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