Mortgage approvals rise in September
British Bankers' Association data showed today that British mortgage approvals rose just 3% in September from a year ago to 72,155, after similar modest gains in August and July.
The rise in approvals remained well below a 20% annual rise in May and a 22% year-on-year gain in June and came as economists expect a further rise in interest rates next month following August's surprise increase to 4.75%.
David Dooks, BBA director of statistics says "Though September's net mortgage lending was below the high summer plateau, that is not necessarily a sign of the market moderating".
The rise in approvals remained well below a 20% annual rise in May and a 22% year-on-year gain in June and came as economists expect a further rise in interest rates next month following August's surprise increase to 4.75%.
David Dooks, BBA director of statistics says "Though September's net mortgage lending was below the high summer plateau, that is not necessarily a sign of the market moderating".
posted by ew at
12:01 PM
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