So we had the Bank of England's announcement on plans to cap more risky mortgage lending. So it turned out to be a bad day for the banks yesterday with this announcement and poor news from Barclay's and Standard Chartered. However the general consensus on the Bank of England move was that it would have a limited effect in the short term and was some kind of longer term insurance policy. Meanwhile Carney is already talking down the likely extent of rate rises to 2.5% from 3% which was being talked about - before they have even started to raise them!
Thus it was a good day for the house builders yesterday as they all rose strongly having travelled fearfully ahead of the announcement. So I'll continue to run my house builders for now as I still think their trading will be strong and the Bank is reluctant to raise rates aggressively and its bark is worse than its bite.