Thursday, September 30, 2010
Credit conditions slightly better
Posted by David Smith at 12:00 PM
Category: Thoughts and responses

The Nationwide reported that house prices edged up by 0.1% in September, but are down on the latest three months, for the first time since May 2009. The figures suggest a market going nowhere fast.

The Bank of England's latest credit conditions survey, meanwhile, suggested some modest easing of conditions. It said:

* Lenders reported that the availability of secured credit to households had risen slightly in the three months to early September 2010 despite a tightening in wholesale funding conditions. Availability was expected to remain broadly unchanged in the next three months.

Unsecured credit availability to households was reported to have remained broadly unchanged for a third consecutive quarter, but some lenders expected availability to increase somewhat in the next quarter.

The overall availability of credit to corporates was reported to have increased for a seventh consecutive quarter, with a larger increase reported in availability to small businesses than for larger companies.