The number of loans made to home buyers rose by 25% between February and March, to 45,000. And borrowing by first-time buyers rebounded faster than that by existing home owners, the CML said. But it warned that mortgage rationing might continue for many years unless the new government helped lenders raise finance.
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The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.
Over the past few years, Mortgage Contracting Services has made a series of acquisitions. That growth trend continues as the company announced Tuesday it is acquiring Miami-based M&M Mortgage Services.