Low saving rates
As per usual there has been plenty of activity in the housing market news this week.
On Monday it was announced that saving rates have hit a new 5 year low and pension savings were struggling too – further strengthening the point that property is the place to invest your cash if you want to make any money for the future.
Forget using a bank to build your savings
Tuesday saw the announcement that the number of house sales estate agents were putting through had fallen again, showing that there is still less competition 
from other buyers so you should still be able to secure all those bargains you are spotting.
On Wednesday Northen Rock revealed they were slashing their mortgage rates following the bank of Englands interest rate cut, more good news for investors with tracker mortgages.
On Thursday it was reported that mortgage lending is still on the decline, further strengthening the position of the buyers who have the funds approved.
Then today an extension to the government mortgage rescue plan was announced to further help those who are struggling with their mortgage repayments.
Latest news summary:
* Fri 16th – Mortgage Rescue Plan is Extended (news.bbc.co.uk)
* Thu 15th – Mortgage Lending Still Falling (news.bbc.co.uk)
* Wed 14th – Northern Rock Cuts Mortgage Rates (news.bbc.co.uk)
* Tue 13th – House Sales ‘Continuing To Fall’ (news.bbc.co.uk)
* Mon 12th – Savings Rates Hit Five-Year Low (news.bbc.co.uk)
* Mon 12th – Pension Fund Deficits Hit £195bn (news.bbc.co.uk)
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