These statistics show that housing market activity remained strong in October, with gross mortgage borrowing 26 per cent higher than a year ago and at its highest level for seven years. “Consumers remain confident and their incomes are growing. Mortgage rates are at multi-year lows and people are snapping up the very competitive deals being offered by banks.” Key points: Gross mortgage borrowing in October was £12.9 billion, 26% higher than a year ago and the highest since August 2008. The number of mortgage approvals in October was 27% higher than a year ago, with remortgaging up 34% and house purchase up 21%. Bank ... (full story)