Mortgages at ten times your salary - 2004-02-12
First time buyers are being encouraged to carry out mortgages up to 10 times their salary, a London Evening Standard survey shows.

The unprecedented loans are being offered in response to a new housing boom that threatens to lift house prices out of reach of millions of young people in the capital.

The new generation of 'super-loans' are perfectly legal - but consumer groups and politicians warned that 'irresponsible' lending could backfire if interest rates rise further.
Read the full story at This Is Money

January new-home sales in capital area surge 33% - 2004-02-12
Sales of new homes in the capital region jumped 33 percent in January, versus the same month last year, a new report shows.

With traditional wage and salary employment stagnant, analysts chalk up much of the housing market's continued strength to low mortgage rates. Last week's average for a fixed-rate 30-year mortgage was 5.72 percent, compared with 5.88 percent a year ago, Freddie Mac, the mortgage giant, reports.
Read the full story at sacbee