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02:01am	DIARY-Top Economic Events to September 30	RE
07-15	Mosman Oil and Gas Limited Announces Production Results for the Three Months and Year Ended June 30, 2024	CI

UK mortgage approvals rise in November again for second month in row

January 04, 2024 at 10:20 am

(Alliance News) - UK mortgage approvals increased on a monthly basis in November for a second month in a row, numbers from the Bank of England showed on Thursday.

Net mortgage approvals for house purchases rose to 50,100 in November from 47,900 in October. This beat FXStreet-cited consensus of an increase to 48,500 approvals.

November's figure follows a rise in approvals in October from September, which in turn snapped a three-month streak of declines.

Net approvals for remortgaging increased to 27,000 in November from 24,000 in October.

The effective interest rate on newly drawn mortgages picked up to 5.34% in November, from 5.25% in October. That rate has picked up every month since February of last year.

The BoE's own benchmark interest rate is currently 5.25%, where it has stood since August.

The UK central bank noted net borrowing of consumer credit by individuals totalled to GBP2.0 billion in November, up from GBP1.4 billion in October.

By Greg Rosenvinge, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
EURO / BRITISH POUND	0.8404 GBX	+0.02%	-0.60%	-
US DOLLAR / BRITISH POUND	0.771 GBX	-0.01%	-1.39%	-
CANADIAN DOLLAR / BRITISH POUND	0.5637 GBX	-0.02%	-1.73%	-
AUSTRALIAN DOLLAR / BRITISH POUND	0.5196 GBX	-0.33%	-1.35%	-
INDIAN RUPEE / BRITISH POUND	0.009226 GBX	-0.05%	-2.13%	-

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