FOREX TradingCharts.com

Financial News: UK Mortgage Approvals Lowest In 8 Months

UK Mortgage Approvals Lowest In 8 Months

05/01/2025 - 05:36:00 (RTTNews)

(RTTNews) - UK mortgage approvals decreased to the lowest level in eight months in March despite home buyers rushing to complete the transactions ahead of the rise in stamp duty, official data revealed on Thursday.

Mortgage approvals decreased 800 to 64,309 in March, the Bank of England said. Approvals for house purchases, an indicator of future borrowing, decreased for the third straight month.

This was the lowest since July 2024 but remained above economists' forecast of 64,000.

The 'effective' interest rate, the actual interest paid, on newly drawn mortgages decreased by 3 basis points, to 4.50 percent in March.

Consumer credit decreased to GBP 0.9 billion in March from GBP 1.3 billion in the previous month. Economists had forecast consumer credit to fall to GBP 1.2 billion.

Annual growth for all consumer credit weakened to 6.1 percent from 6.4 percent in February.

In March, businesses borrowed GBP 1.8 billion compared to a net repayment of GBP 0.5 billion in February. Large companies borrowed GBP 1.7 billion and small and medium sized businesses borrowed GBP 0.1 billion in March. Today's data suggest households were starting to spend more cautiously even before the full hit to consumer confidence from the heightened uncertainty caused by the new US tariffs regime is felt, Capital Economics economist Ashley Webb said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2025 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May (56 min(s), 36 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month ...Full Story»

U.S. Import, Export Prices Unexpectedly Inch Higher In April (53 min(s), 36 sec(s) ago)
(RTTNews) - The Labor Department released a report on Friday unexpectedly showing modest increases ...Full Story»

U.S. Housing Starts Rebound Less Than Expected In April, Building Permits Pull Back Sharply (49 min(s), 36 sec(s) ago)
(RTTNews) - While the Commerce Department released a report on Friday showing a rebound by new res ...Full Story»

Eurozone Trade Surplus Surges On Exports To US (03 min(s), 36 sec(s) ago)
(RTTNews) - The euro area trade surplus grew strongly in March as exports to the U.S increased sha ...Full Story»

U.S. Import, Export Prices Unexpectedly Inch Up 0.1% In April (17 min(s), 36 sec(s) ago)
(RTTNews) - The Labor Department released a report on Friday unexpectedly showing modest increases ...Full Story»

U.S. Housing Starts Rebound In April But Building Permits Pull Back Sharply (10 min(s), 36 sec(s) ago)
(RTTNews) - While the Commerce Department released a report on Friday showing a rebound by new res ...Full Story»

Hong Kong Q1 GDP Growth Confirmed At 3.1% (39 min(s), 36 sec(s) ago)
(RTTNews) - Hong Kong's economy expanded at an accelerated pace as initially estimated in th ...Full Story»

Italy Trade Surplus Shrinks In March (13 min(s), 36 sec(s) ago)
(RTTNews) - Italy's foreign trade surplus decreased in March from a year ago as imports grew f ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

05/16/2025 - 10:25 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month ...Full Story>>

U.S. Import, Export Prices Unexpectedly Inch Higher In April

05/16/2025 - 10:22 AM (RTTNews)
(RTTNews) - The Labor Department released a report on Friday unexpectedly showing modest increases ...Full Story>>

U.S. Housing Starts Rebound Less Than Expected In April, Building Permits Pull Back Sharply

05/16/2025 - 10:18 AM (RTTNews)
(RTTNews) - While the Commerce Department released a report on Friday showing a rebound by new res ...Full Story>>

Eurozone Trade Surplus Surges On Exports To US

05/16/2025 - 09:32 AM (RTTNews)
(RTTNews) - The euro area trade surplus grew strongly in March as exports to the U.S increased sha ...Full Story>>

U.S. Import, Export Prices Unexpectedly Inch Up 0.1% In April

05/16/2025 - 08:46 AM (RTTNews)
(RTTNews) - The Labor Department released a report on Friday unexpectedly showing modest increases ...Full Story>>

Do not sell my personal information

Copyright © 2025. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.