BULLET: MNI DATA: boe uk dec house purchase approvals 63,793.>

MNI DATA: boe uk dec house purchase approvals 63,793 v 63,952 Nov

-BOE UK Dec net mortgage lending stg4.112bn vs stg3.631bn Nov

-BOE UK Dec net consumer credit stg0.687bn vs 0.958bn Nov

-BOE UK Dec m4 ex-iofcs +0.5% m/m; +2.5% 3m ann +4.3% 12m

-BOE UK Dec 75% avg. ltv fixed 2,3,5,10 yr mortgages all lower

-BOE Dec net overseas gilt buys +stg12.960bn; highest since Aug

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The UK housing market continued to tread water in December with mortgage 

approvals, a good indicator of future activity, edging down to 63,793 

from 63,952 in November and the lowest reading since the 63,433 recorded 

in April. Quoted, or shop window, mortgage interest rates fell again in 

December, with the 2,3,5 and 10 75% loan-to-value rates all lower by 

between 1 and 3 basis points. Unsecured borrowing declined. The broad 

picture is one of subdued borrowing despite lower borrowing costs, which 

underscores the weakness of demand.