Mortgage Approvals Hit Highest Level in Nine Months

U.K. mortgage lending reached a nine-month high in March, a possible sign that stability is returning to the housing market. The number of home-loan approvals climbed to 39,980, almost 6 percent higher than a year earlier and the most since June 2018, lobby group UK Finance said The pickup came as a surprise to economists, who had expected to see a further slowdown last month. The housing market has been hit by Brexit uncertainty, particularly in London, and mortgage approvals remain well below the levels posted two years ago. Annual growth in consumer credit accelerated to 4.1 percent, the highest since June last year. Read more on the Bloomberg website.

https://www.bloomberg.com/news/articles/2019-04-26/u-k-mortgage-approvals-hit-highest-level-in-nine-months