Phoebus reaction to Money & Credit
01 September 2026
Richard Pike, sales and marketing director at Phoebus Software:
“After June's improvement there was hope activity was beginning to stabilise, so a reversal in July is disappointing. But it’s important not to view one month in isolation. Mortgage demand remains sensitive to affordability and the direction of mortgage rates, both of which have continued to move around in recent months.
“The underlying picture is therefore one of a market that is functioning, but with buyers remaining highly selective about when they commit.
“The real question is whether this weakness persists through the autumn. If approvals continue to fall, it would point to a more sustained loss of momentum. If they stabilise and begin to recover, July may prove to have been a temporary setback rather than the start of a wider slowdown.”
