Friday, 9 March 2018

UK Mortgage Approvals See Biggest Surge In Nearly Three Years

Britain’s economy grew more slowly on an annual basis than all other Group of Seven countries in the final three months of last year, after consumers were hurt by higher inflation caused by the pound’s fall after the Brexit vote in June 2016. The housing market has also been sluggish - especially in London and surrounding areas - and major mortgage lender Nationwide said earlier on Thursday that prices in January rose at their weakest annual rate since August, up 2.2 percent on a year earlier. But the BoE said the number of mortgages approved for house purchase rose to 67,478 in January from a one-year low of 61,692 in December.  Read more on the Reuters website.

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