Mortgage Approvals at 12 Month Low
Bank of England figures today show that new mortgage approvals in the UK fell to a 12 month low in April. With 107,000 approvals, April was the third monthly decline in a row.A further indication of weakening demand was that mortgage lending rose by £8.6bn, much less than expected and the smallest rise since Sept 2006.
According to analysts, this news shows that the Bank of England's monetary tightening is beginning to work in cooling off consumer lending.
0 Comments:
Post a Comment
Links to this post:
Create a Link