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CML predicts housing market trends and interest rates

Speaking at the Mortgage Business Expo in Manchester today, the Council of Mortgage Lenders senior economist Jennet Vass said she expects interest rates to rise to five and a half per cent by the end of the year.

Vass said the predicted rises would cause a gentle slowdown in the housing market and the CML expected house price percentage increases to be in double figures by the end of the year. She added that she did not think the market was in a “boom-bust” situation at the moment.

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