Mortgage Approvals Fall after Jan...........>

UK DATA: Mortgage Approvals Fall after Jan bounceback           

--BOE: UK Feb House Purchase Approvals 63,910 vs 67,110 Jan

--BOE: UK Feb Net Consumer Credit stg1.647bn vs stg1.328bn Jan 

--BOE: UK Feb Net Mortgage Lending stg3.718bn vs stg3.433bn Jan

--BOE: UK Feb M4 Ex-intermediate OFCS 0.0% m/m; +3.3% 3m Annualised         

--BOE: UK Feb Effective Interest Rate On New Secured Loans Up To 2.02%    

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New mortgage approvals fell to 63,910 in February from 67,110 in 

January but this was above the December low of 61,428. This was 

significantly lower than analysts expected with MNI forecasts suggesting 

a figure closure to 66,000. The data continue to be volatile and fall 

below the previous 6-month average of 65,162. Annual growth in secured 

lending was unchanged at 3.3% in February and net lending was in line 

with the previous six-month average at stg3.7bn. Elsewhere, the take up 

of unsecured credit was up a touch. At stg1.647bn, this monthly change 

was slightly higher from stg1.328bn in January but still below the 

figure in December of stg1.705bn.