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MNI: BOE June Mortgage Interest Rates Edge Up; Approvals Rise> 

-BOE UK June house purchase approvals 65,619 vs 64,684 May  
     LONDON (MNI) - Average interest rates on mortgages largely moved 
higher in June whilst mortgage approvals, a good indicator of future 
housing market activity, rose, Bank of England data showed. 
     The quoted, or shop window, interest rates on higher loan-to-value 
mortgages tended to be higher in June than May and the average rate on 
the stock of fixed rate mortgages also picked-up. The BOE data showed 
mortgage demand holding up but borrowing becoming more expensive. 
     The average quoted rate on two-year 85% loan-to-value (LTV) 
mortgage rose to 2.09% in June from 2.06% in May and on a 90% LTV 
mortgage to 2.37% from 2.33%. The BOE has sought to curb higher 
loan-to-income (LTI) borrowing, seeking to restrict the proportion of 
high LTI mortgages on lenders' books. 
     In June there were 65,619 mortgage approvals, up from 64,684 in 
May. This was above the six month average of 63,858. 
     Unsecured borrowing dropped marginally to stg1.567 billion from 
stg1.575 billion in May. 
-London newsroom: e-mail: david.robinson@marketnews.com  
[TOPICS: M$B$$$,M$$BE$,MABDS$]
data-HeadlineBank of EnglandImpactDataPolicy NewsData StoriesFiscalCEEMEARegulationBank Of England (BOE) Market NewsHeadlineUKFixed Income BulletsForeign Exchange BulletsRegionCentral Bank News
data-HeadlineBank of EnglandImpactDataPolicy NewsData StoriesFiscalCEEMEARegulationBank Of England (BOE) Market NewsHeadlineUKFixed Income BulletsForeign Exchange BulletsRegionCentral Bank News
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