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UK July Mortgage Approvals Rebound From June Low: BBA
UK mortgage approvals rebounded in July from their June low, but were still sharply down on year ago levels, according to BBA data. The number of seasonally adjusted mortgage approvals stood at 28,441 in July, up from 25,940 in June and a 9.6% rise on the month. The June outturn was the lowest since the 22,921 seen back in December 2008 and the July reading is markedly below the levels seen in the first quarter of this year. Back in February mortgage approvals hit their local peak for this year of 32,523. Mortgage approvals in July were 16.6% down on the same month a year ago. The data also ... (full story)
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