FOREX TradingCharts.com

Financial News: UK Mortgage Approvals At 9-month High In December:

UK Mortgage Approvals At 9-month High In December: BBA

01/26/2017 - 05:10:00 (RTTNews)

(RTTNews) - Loan approvals for house purchase was the highest in nine months in December, exceeding economists' expectations, figures from the British Bankers' Association showed Thursday.

Mortgage approvals for house purchase rose to 43,228 from 41,003 in November. A year ago, the figure was 43,104. Economists had forecast 41,000 approvals for December.

The latest approvals figure was the highest since March, whey it was 43,714.

For the whole of 2016, mortgage approvals were 4.1 percent lower than the previous year.

Remortgaging approvals jumped 30 percent year-on-year in December, marking its highest level since October 2008. Such approvals rose 15 percent in 2016.

Gross mortgage borrowing rose 3.6 percent year-on-year to GBP 12.6 billion and net mortgage borrowing grew 2.5 percent.

In the full year 2016, high street banks gross mortgage lending grew 11.6 percent to GBP 154 billion.

Business borrowing declined by GBP 2.8 billion, led by the seasonal fall in the construction and agricultural sectors. In 2016, business borrowing grew 2 percent.

Despite weak retail sales, consumer credit grew 6.6 percent in December. Growth continues to be supported in the case of personal loans by favorable interest rates, the BBA said.

"Overall, we've seen high levels of consumer and business borrowing, although there are early indications that 2017 could see softer demand for credit from business and households, as they anticipate future interest rate rises and wait for further clarity on Brexit," BBA Chief Economist Rebecca Harding said.

"Reduced demand for business borrowing may signal plans for investment are being deferred or funded through retained earnings until there is more certainty on the UK's economic prospects after Brexit."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Drops Less Than Initially Estimated In February (45 min(s), 17 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. pulled back by less than initially estimated in the mon ...Full Story»

U.S. New Home Sales Rebound Less Than Expected In January (34 min(s), 17 sec(s) ago)
(RTTNews) - After reporting a steep drop in U.S. new home sales in the previous month, the Commerc ...Full Story»

Greece CB Forecasts Robust Positive Growth For 2017 (38 min(s), 17 sec(s) ago)
(RTTNews) - The Bank of Greece forecast robust positive economic growth for 2017 but cautioned tha ...Full Story»

Greece PPI Rises Further In January (10 min(s), 17 sec(s) ago)
(RTTNews) - Greece's producer prices rose for the second straight month in January, figures fr ...Full Story»

Italy's Business Confidence Improves; Consumer Sentiment Weakens (29 min(s), 17 sec(s) ago)
(RTTNews) - Italy's business confidence reached its highest level in more than a year in Febru ...Full Story»

Croatia CPI Rises For Second Month (06 min(s), 17 sec(s) ago)
(RTTNews) - Croatia's consumer prices increased for the second straight month in January, figu ...Full Story»

UK Mortgage Approvals At 1-Year High: BBA (53 min(s), 17 sec(s) ago)
(RTTNews) - UK mortgage approvals increased to a one-year high in January, the British Bankers' ...Full Story»

Austria Production Index Climbs In December (51 min(s), 17 sec(s) ago)
(RTTNews) - Austria's production index that combines output of both industry and construction, ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Drops Less Than Initially Estimated In February

02/24/2017 - 10:27 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. pulled back by less than initially estimated in the mon ...Full Story>>

U.S. New Home Sales Rebound Less Than Expected In January

02/24/2017 - 10:16 AM (RTTNews)
(RTTNews) - After reporting a steep drop in U.S. new home sales in the previous month, the Commerc ...Full Story>>

Greece CB Forecasts Robust Positive Growth For 2017

02/24/2017 - 07:20 AM (RTTNews)
(RTTNews) - The Bank of Greece forecast robust positive economic growth for 2017 but cautioned tha ...Full Story>>

Greece PPI Rises Further In January

02/24/2017 - 06:52 AM (RTTNews)
(RTTNews) - Greece's producer prices rose for the second straight month in January, figures fr ...Full Story>>

Italy's Business Confidence Improves; Consumer Sentiment Weakens

02/24/2017 - 06:11 AM (RTTNews)
(RTTNews) - Italy's business confidence reached its highest level in more than a year in Febru ...Full Story>>
These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.