"Subdued" is the word of the month in mortgages. Council of Mortgage Lenders data shows the number of loans for house purchases up only very slightly on the month (despite July being, traditionally, a house-buying bonanza). Re-mortgage loans were unchanged on the month, and actually down on July 2009's figures. Loans to first-time buyers were down both on the month and the year, giving them the lowest proportion of the mortgage market at any time since the start of the credit crunch. More here.

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