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Mortgage Approvals Rebound While Unsecured..>

UK DATA
UK DATA: Mortgage Approvals Rebound While Unsecured Credit Growth Slows          
--BOE: UK Jul House Purchase Approvals 68,689 vs 65,318 Jun
--BOE: UK Jul Net Consumer Credit stg1.179bn vs stg1.351bn Jun 
--BOE: UK Jul Net Mortgage Lending stg3.601bn vs stg4.134bn Jun
--BOE: UK Jul M4 Ex-intermediate OFCS +0.0% m/m; +3.3% 3m Annualised         
--BOE: UK Jul Effective Interest Rate On New Loans Fall To 1.95%    
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Growth in mortgage approvals bounced back in July, up 68,689, the 
highest monthly change since last March and comfortably above the 
previous 6m average of 66.5k. Secured lending did slow in July to 
stg3.601bn, the lowest monthly change in three months. Elsewhere, there 
was also a slowdown in the take up of unsecured credit in July. At 
stg1.179bn, this monthly change was the lowest since last December. 
Effective rates on both new and existing mortgages set new lows in July, 
falling to 2.55% and 1.95% respectively.    

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