By Jill Fraser for Lending Central

Veda Advantage’s quarterly Consumer Credit Demand Index, released last week, reveal that mortgage applications increased by 32% in the July to September quarter of 2009 compared with the same period last year, reflecting the highest quarterly increase in mortgage applications in the past five years of Veda Advantage records.

But speaking exclusively to Lending Central Russell Evans, Veda Advantage General Manager Market and Product Development cautions against getting too excited about this spike.

Flash numbers for October show a drop in the number of residential mortgage inquiries.

Year on year the September quarter showed a 32% growth following a June quarter of 28%. But Evans says that a preview of October numbers shows only a 15% growth.
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