Hope for mortgage market as buyer interest rises

10 June 2009

House prices seem to be stabilising due to a combination of rising buyer interest and falling numbers of houses for sale, according to the Royal Institution of Chartered Surveyors (RICS).

RICS said that new buyer inquiries increased for the seventh month in a row since May, and at the fastest rate since 1999, according to the BBC.

The Institution also reported that average sales were at the highest level since August last year.

The RICS survey takes a `snapshot` of confidence amongst surveyors and estate agents across the UK.

A mortgage expert for Think Money said: "This is one of several signs that the housing market may be starting to recover, although we will have to wait for some time before we have a clear picture."

The news comes as mortgage expert Ray Boulger warned that mortgage lenders would soon raise their rates on fixed-rate mortgage deals.

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Think Money work with a panel of lenders to offer a range of mortgages. If you are considering taking out a mortgage, contact one of our expert mortgage advisers today.

Tags: mortgage, mortgages, fixed rate mortgages, mortgage rates, fixed rate, getting a mortgage, buyer, buyer interest, RICS, Charcol

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