UK BBA August mortgage approvals 41,807 vs 41,700 exp

UK BBA August mortgage data just out 26 Sept

  • 41,644 prev revised up from 41,587
  • re-mortgaging 27,768 vs 26,413 prev
  • net mortgage lending £1.792bln vs 1.520bln prev
  • net credit card lending £0.083bln vs 0.192bln prev
  • net lending to non-financial companies £4.763bln vs -0.481bln prev
  • consumer credit +1.5% yy vs +1.9% prev, slowest growth since April

The British Bankers’ Association (BBA) Mortgage Approvals measures the number of new mortgages approved by BBA-backed banks during the previous month. It includes more than half of the total U.K. mortgage market.

A slow down in consumer credit welcome but rise in re-mortgaging not so healthy.

GBPUSD 1.3480 finding a little support from the suppressed EURGBP.

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