UK Mortgage Approvals Increase More Than Expected In November-BoE

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The number of loans approved for house purchases in the UK rose to 60,518 in November from 57,718 in the prior month, a monthly report from the Bank of England showed Monday. The expected level was 58,000.

Total net lending to individuals rose GBP 1.1 billion in November. The twelve-month growth rate was 0.7%, the same as in October. Within the total, net lending secured on dwellings increased GBP 1.5 billion, higher than the October increase of GBP 1.1 billion and the expected GBP 0.9 billion.

The central bank said consumer credit decreased GBP 0.4 billion, weaker than the previous six-month average of a GBP 0.2 billion fall. At the same time, credit card lending rose GBP 0.2 billion but other loans and advances fell GBP 0.6 billion.

The number of loans approved for house purchases in the UK rose to 60,518 in November from 57,718 in the prior month, a monthly report from the Bank of England showed Monday. (Market News Provided by RTTNews)