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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.
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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
REPEAT: Nov Mort Approvals Lowest Since Aug 2016: UK Finance
Repeats Story Initially Transmitted at 09:38 GMT Dec 28/04:38 EST Dec 28
By David Robinson
LONDON (MNI) - UK seasonally adjusted mortgage approvals in November fell
to their lowest level since August 2016, UK Finance data showed, providing
further evidence that the housing market is cooling.
Mortgage approvals from the major UK banking groups fell to 39,507 in
November from 40,417 in October, the lowest reading since the 38,308 recorded in
August 2016.
Re-mortgaging also slowed, with re-mortgaging deals agreed dropping to
33,670 in November from 34,006 in October, although still well above the 30,353
recorded in September.
The net change in mortgage lending shrunk to stg1.853 billion in November
from stg1.873 billion in October, the weakest reading since July.
Forecasters are, for the most part, downbeat about the outlook for the UK
housing market in 2018.
Mortgage lender Nationwide, for example, predicted that house prices would
be "broadly flat" in 2018, whereas in 2017 prices in January through November
prices rose in a 2-4% range on the year.
--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com
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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.