Free Trial

Mortgage Approvals At 2.5-Year High.........>

UK DATA
UK DATA: Mortgage Approvals At 2.5-Year High
- DEC Net Consumer Credit GBP1.218bn vs NOV GBP0.653bn  
- DEC Mortgage Approvals 67,241 vs NOV 65,514
- DEC Net Secured Lending GBP4.550 vs NOV GBP4.245bn
- DEC M4 +0.1% m/m, 3.8% y/y vs NOV +0.8% m/m, +4.5% y/y
- DEC M4 exIOFC +0.3% m/m, +3.8% y/y vs NOV +0.6% m/m, +4.1% y/y
----------------------------------------------------------------
Mortgage approvals rose to 67,241, the highest since Jul 2017, shifting 
the index above the six-month avg of 65,900. The average interest rate 
on new mortgages in Dec picked up to 1.88% after Nov's decline to the 
lowest level since Jan 2016. Effective rates on new unsecured other 
loans to individuals rose to 7.14%, hitting the highest since Dec 
2018.The net flow of consumer credit was GBP1.218bn in Dec, after 
recording the smallest flow since Nov 2013 in Nov 2019. Meanwhile, 
overdrafts interest and fee charging jumped to a record high in Dec of 
28.29%.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.