UK March mortgage approvals 61.33k vs 61.00k expected

Prior 60.38k; revised to 60.50Net consumer credit £1.6 billionPrior £1.4 billion

The mortgage approvals for the month is the highest since September 2022, with the ‘effective’ interest rate on newly drawn mortgages dropping by a whopping 17 bps to 4.73% in March. Of note, individuals borrowed, on net, £0.3 billion of mortgage debt on the month.

This article was written by Justin Low at www.forexlive.com.