BURBERRY HAYMARKET COLOUR SANDAL It appears that rising interest rates have had little impact on the UK housing market as the Association of British Bankers have revealed that mortgage lending in July 2007 increased by £13. 6 billion. The figure is almost exactly in line with the preceding six-month average of £13. 7 billion and represents a slight increase on the June rise of £13. 1 billion.
The July increase is not what the organisation expected with BBA statistics director David Dooks admitting that the rise was 'surprising' following the cumulative affect of the recent interest rate rises. He added: "Steady growth in lending on UK mortgages in spite of five interest rate rises highlights the popularity of home ownership", but Dooks also pointed out that much of the total advanced figure could be down to re-mortgaging activity as homeowners seal fixed rate deals to minimise the impact of the interest rate rises.
Those five rises over the last year have led many homeowners currently on due-to-expire fixed rate deals to frantically compare mortgages currently available in the market in an effort to find one that will alleviate the rate increases. Homeowners with a mortgage of £100, 000 currently on fixed rate deals obtained two years ago could face a monthly increase in the region of £200 per month if they were to move to the variable standard rate; so the need to find a discounted or fixed rate remortgage is proving fairly critical for many families. That immediate need is what most experts believe are driving the current mortgage boom.
The Council of Mortgage Lending (CML) recently announced that total gross mortgage lending reached a new record for the month of July amounting to £34. 4 billion, reflecting the trend highlighted in the BBA figures. The CML readily admit that they attribute market buoyancy to the remortgage effect and don't expect autumn figures to be so high. Despite that, the CML are still predicting a record £360billion of mortgage lending for the year ended 2007. That will be due in part at least to the fact that more and more fixed-rate mortgages [http://www.moneynet.co.uk/mortgages/index.shtml] are due to revert to standard variable rate in the coming months.
However, BURBERRY HAYMARKET COLOUR SANDAL the Royal Institute of Surveyors (RICS) has pointed out that the recent volatility in world markets, including the collapse of the sub-prime market in the USA, will lead to more expensive fixed rate deals, and that will impact on household finances. Chief economist for the organisation Simon Rubinsohn warned: "With 90% of borrowers currently opting for fixed rate deals, those who already find themselves financially stretched will be paying an even higher price for their peace of mind. "
So, even though mortgage lending is still at record levels it is primarily because of homeowners seeking new fixed rate remortgage deals. It appears that the interest rate rises designed to slow the economy are having the desired effect, even if it taking time to work its way through the system.
Elisha Burberry is an online, freelance journalist and keen traveller and watersports enthusiast. Originally from Scotland, she now resides in London.
BURBERRY HAYMARKET COLOUR ESPADRILLE The history of the United States has been a short but highly eventful one. And it could be said, perhaps, that the rapid growth of the United States was and is down to the fact that it is a nation built on dreams. From Manifest Destiny to Martin Luther King, dreams have always been important to the American way of life.
A great place to see the realization of the American dream is the south-eastern state of Texas. Although having not always been part of the US (it's famously been governed under the flags of six separate countries), Texas has always been part of the American dream. The original colonial belief in Manifest Destiny was based on the idea that it was the fate of the new land to stretch united from west coast to east, and reach down to the natural border with Mexico - the Rio Grande River in Texas.
Even before it became part of the US, Texas played a key role in American history. And since 1845, when it officially became one of the United States, is has become somewhat of a tradition for Texas to embody the ideals of America - so from its economic boom in the early 1900s (due to the discovery of vast oil fields - the largest in the country) to its moon-race winning NASA control centre in Houston, Texas has played an integral part in its nation's history.
As well as being an important place in American history, Texas is also an area of outstanding natural beauty, which includes forested mountains, canyons, deserts and rivers; which are dotted with old battlefields and colonial missions, and are home to wildlife such as black bears, mountains lions, roadrunners, and an array of carnivorous plants!
BURBERRY STUDDED DENIM CHECK PLATFORM SANDAL As well as three of the nation's largest cities (Houston, Austin and San Antonio), Texas is home to a number of smaller cities, which quite often offer a good base for those looking to explore the natural and cultural history of the State.
One such example is Corpus Christi, or as it is nicknamed, 'the Sparkling City by the Sea', situated in close proximity to Palo Alto Battlefield - site of the first major battle of the US-Mexican War, the San Antonio Missions National Historical Park, and is itself located on the coast opposite the Padre Island National Seashore, a teeming wilderness of sand dunes, grassland and ocean, inhabited by creatures ranging from black-tailed jackrabbits to sharks and dolphins.
A great place to see the realization of the American dream is the south-eastern state of Texas. Although having not always been part of the US (it's famously been governed under the flags of six separate countries), Texas has always been part of the American dream. The original colonial belief in Manifest Destiny was based on the idea that it was the fate of the new land to stretch united from west coast to east, and reach down to the natural border with Mexico - the Rio Grande River in Texas.
Even before it became part of the US, Texas played a key role in American history. And since 1845, when it officially became one of the United States, is has become somewhat of a tradition for Texas to embody the ideals of America - so from its economic boom in the early 1900s (due to the discovery of vast oil fields - the largest in the country) to its moon-race winning NASA control centre in Houston, Texas has played an integral part in its nation's history.
As well as being an important place in American history, Texas is also an area of outstanding natural beauty, which includes forested mountains, canyons, deserts and rivers; which are dotted with old battlefields and colonial missions, and are home to wildlife such as black bears, mountains lions, roadrunners, and an array of carnivorous plants!
BURBERRY STUDDED DENIM CHECK PLATFORM SANDAL As well as three of the nation's largest cities (Houston, Austin and San Antonio), Texas is home to a number of smaller cities, which quite often offer a good base for those looking to explore the natural and cultural history of the State.
One such example is Corpus Christi, or as it is nicknamed, 'the Sparkling City by the Sea', situated in close proximity to Palo Alto Battlefield - site of the first major battle of the US-Mexican War, the San Antonio Missions National Historical Park, and is itself located on the coast opposite the Padre Island National Seashore, a teeming wilderness of sand dunes, grassland and ocean, inhabited by creatures ranging from black-tailed jackrabbits to sharks and dolphins.
BURBERRY WEDGE The history of the United States has been a short but highly eventful one. And it could be said, perhaps, that the rapid growth of the United States was and is down to the fact that it is a nation built on dreams. From Manifest Destiny to Martin Luther King, dreams have always been important to the American way of life.
A great place to see the realization of the American dream is the south-eastern state of Texas. Although having not always been part of the US (it's famously been governed under the flags of six separate countries), Texas has always been part of the American dream. The original colonial belief in Manifest Destiny was based on the idea that it was the fate of the new land to stretch united from west coast to east, and reach down to the natural border with Mexico - the Rio Grande River in Texas.
Even before it became part of the US, Texas played a key role in American history. And since 1845, when it officially became one of the United States, is has become somewhat of a tradition for Texas to embody the ideals of America - so from its economic boom in the early 1900s (due to the discovery of vast oil fields - the largest in the country) to its moon-race winning NASA control centre in Houston, Texas has played an integral part in its nation's history.
As well as being an important place in American history, Texas is also an area of outstanding natural beauty, which includes forested mountains, canyons, deserts and rivers; which are dotted with old battlefields and colonial missions, and are home to wildlife such as black bears, mountains lions, roadrunners, and an array of carnivorous plants!
BURBERRY DENIM CHECK JACQUARD WEDGE SANDAL As well as three of the nation's largest cities (Houston, Austin and San Antonio), Texas is home to a number of smaller cities, which quite often offer a good base for those looking to explore the natural and cultural history of the State.
One such example is Corpus Christi, or as it is nicknamed, 'the Sparkling City by the Sea', situated in close proximity to Palo Alto Battlefield - site of the first major battle of the US-Mexican War, the San Antonio Missions National Historical Park, and is itself located on the coast opposite the Padre Island National Seashore, a teeming wilderness of sand dunes, grassland and ocean, inhabited by creatures ranging from black-tailed jackrabbits to sharks and dolphins.
A great place to see the realization of the American dream is the south-eastern state of Texas. Although having not always been part of the US (it's famously been governed under the flags of six separate countries), Texas has always been part of the American dream. The original colonial belief in Manifest Destiny was based on the idea that it was the fate of the new land to stretch united from west coast to east, and reach down to the natural border with Mexico - the Rio Grande River in Texas.
Even before it became part of the US, Texas played a key role in American history. And since 1845, when it officially became one of the United States, is has become somewhat of a tradition for Texas to embody the ideals of America - so from its economic boom in the early 1900s (due to the discovery of vast oil fields - the largest in the country) to its moon-race winning NASA control centre in Houston, Texas has played an integral part in its nation's history.
As well as being an important place in American history, Texas is also an area of outstanding natural beauty, which includes forested mountains, canyons, deserts and rivers; which are dotted with old battlefields and colonial missions, and are home to wildlife such as black bears, mountains lions, roadrunners, and an array of carnivorous plants!
BURBERRY DENIM CHECK JACQUARD WEDGE SANDAL As well as three of the nation's largest cities (Houston, Austin and San Antonio), Texas is home to a number of smaller cities, which quite often offer a good base for those looking to explore the natural and cultural history of the State.
One such example is Corpus Christi, or as it is nicknamed, 'the Sparkling City by the Sea', situated in close proximity to Palo Alto Battlefield - site of the first major battle of the US-Mexican War, the San Antonio Missions National Historical Park, and is itself located on the coast opposite the Padre Island National Seashore, a teeming wilderness of sand dunes, grassland and ocean, inhabited by creatures ranging from black-tailed jackrabbits to sharks and dolphins.