June Mortgage Approvals Rise for 2nd Month..>

UK DATA: June Mortgage Approvals Rise for 2nd Consecutive Month          

--BOE: UK June House Purchase Approvals 65,619 vs May 64,684   

--BOE: UK June Net Consumer Credit stg1.567bn vs May stg1.575bn  

--BOE: UK June Net Mortgage Lending stg3.851bn vs May stg3.770bn   

--BOE: UK June M4 Ex-intermediate OFCS -0.1% m/m; 3.6% 3m Annualised         

--BOE: UK June Effective Rate New Secured Loans 2.09% v May2.09%    

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Mortgage approvals rose for the second consecutive month to 65,619 

from 64,684 in May. The last two months contrasted with three prior 

months where mortgage approvals fell to 62,941. The rise to 65,619 was 

above the six-month average of 63,858. Net consumer credit edged down a 

touch in June, dropping to stg1.567bn from stg1.575 in May, attributed 

to a slight drop in the month-on-month growth rate of credit card 

lending. However, net consumer was credit was still above the six month 

average of stg1.4bn. Annual growth in secured lending remained unchanged 

from May's revised figure of 3.2%. The BOE's data showed consumer 

overdrafts at their highest since October 2017. The rate of 19.68 was 

also not far away from the series high of 19.72.