down but mortgage approvals increase
In January mortgage lending increased
by the weakest amount in 4 months. However approvals for fresh
home loans increased from a different perception the housing market
is not struggling unduly after interest rates increased three
times just after August period.
On Thursday the Bank of England stated
that lending connected on dwellings increased by 9.567bn pounds
January period. It was lower than 10.3bn pounds increase December
period and the 10.05bn leap suggested by investigators.
However mortgage approvals increased
to 120,000 from 114,000 December period. This summery was good
news and analysts feel that the mortgage market will keep on increasing
more and more as the year follows.
Philip Shaw, chief at Investec "The
mortgage lending numbers were weaker than expected but we would
argue that the mortgage approvals number is probably the more
accurate gauge of the current state of the mortgage market."
The sterling increased when data
was totalled during the same time as new data of a step down in
factory activity took place.
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