CML: UK Mortgage Lending Rebounds

Gross mortgage lending in the United Kingdom rebounded in October to £30.3 billion (about $57.5 billion) from £29.2 billion (about $55.4 billion) in September, according to the Council of Mortgage Lenders, London."We expect to see lending remaining at high levels through the new year," said CML director general Michael Coogan. "But with interest rates rising for the second time in three months, we anticipate a modest slowdown in house sales and mortgage approvals as 2007 progresses." The CML can be found on the Web at http://www.cml.org.uk.