Free Trial

Mortgage Approvals At 8M High; Net Credit...>

UK DATA
UK DATA: Mortgage Approvals At 8M High; Net Credit Remains Weak               
--BOE: UK Oct House Purchase Approvals 67,086 vs Sep 65,726   
--BOE: UK Oct Net Consumer Credit stg0.894bn vs Sep stg0.852bn  
--BOE: UK Oct Net Mortgage Lending stg4.121bn vs Sep stg4.015bn   
--BOE: UK Oct M4 Ex-intermediate OFCS 0.3% m/m; 2.3% 3m Annualised         
--BOE: UK Oct Effective Rate New Secured Loans Unch At 2.10%    
--------------------------------------------------------------------- 
Mortgage approvals rose to 67,086, its highest in 8 months. The 
rise stemmed from house purchase approvals as remortgage approvals 
remained unchanged from September's reading of 49,000. The impressive 
reading was reflected in net secured lending rising to stg4.121 bn, its 
highest level since Aug 2017. Contrastingly, net consumer credit was 
lacklustre again in October. Whilst up a touch to stg0.894 bn, other 
loans and advances remained weak in October at stg0.5bn, significantly 
below the six-month average of stg0.8bn. 

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.