Mortgages Hit 13-Year High, But Consumers Wary About Borrowing

Lenders approved the most mortgages in more than 13 years in October, Bank of England data shows, suggesting no let-up yet in a post-coronavirus lockdown bounce-back in the country’s housing market. But the figures also underscored a broader wariness about day-to-day borrowing among many consumers - whose spending helps drive the economy - as the country was hit by a second wave of COVID-19 cases. Mortgage approvals for house purchase hit 97,532, up from 92,091 in September and higher than all forecasts in a Reuters poll of economists. Read more on the Reuters website.

https://uk.reuters.com/article/uk-health-coronavirus-britain-economy/uk-mortgages-hit-13-year-high-but-consumers-wary-about-borrowing-idUKKBN28A127