Gross mortgage lending in the U.K. dropped 14% in April from March and off 5% from a year ago, according to the Council of Mortgage Lenders. The CML said “statistical noise associated with extended holidays around Easter and the royal wedding” makes it difficult to gauge any market trends, but said so far activity in May has returned to March and early-April levels.
Click here to read the release from the Council of Mortgage Lenders.