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Mortgage Approvals Slow While Secured.......>

UK DATA
UK DATA: Mortgage Approvals Slow While Secured Lending Remains Elevated          
--BOE: UK Jun House Purchase Approvals 64,684 vs 65,109 May 
--BOE: UK Jun M4 Ex-intermediate OFCS +0.4% m/m; +5.4% 3m Annualised 
--BOE: UK Jun Net Mortgage Lending stg4.149bn vs stg3.912bn May         
--BOE: UK Jun Net Consumer Credit stg1.458bn vs stg1.769bn May                                         
--BOE: UK Jun Effective Interest Rate On New Loans Unchanged at 2.05%    
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Growth in mortgage approvals decelerated to 64,684 in June, the 
lowest level since September last year, in line with recent surveys 
depicting a softening in the UK housing market. Secured lending rose to 
stg4.149bn in June, the highest since last March and comfortably above 
the 6m average of stg3.5bn. Amid growing concerns of rising household 
indebtedness, consumer credit retreated back to its 6m average of 
stg1.5bn, the lowest since last February, down 
from stg1.8bn in May.  

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