CML: UK Mortgage Lending Declines

United Kingdom mortgage lending fell 3% in October to an estimated £27 billion (about $46.3 billion) but remains relatively strong, according to the Council of Mortgage Lenders."Although this is down from the £27.7 billion [approximately $47.5 billion] of lending in September, it is still one of the highest monthly lending figures on record, and 16% higher than the £23.2 billion [about $39.8 billion] of lending in the same month last year," the CML said in a Nov. 18 report. The CML can be found online at http://www.cml.org.uk.