UK mortgage approvals reach four month high in March
Bank of England data shows mortgage approvals for house purchases rose to 63,531 in March. Consumer credit grew at its fastest annual rate since early 2024.
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Lenders in the United Kingdom approved 63,531 mortgages in March, the highest volume in four months. The figure rose from 62,708 in February, beating economist expectations for a decline despite the conflict in Iran. Resilient credit demand suggests the British housing market is absorbing higher borrowing costs better than anticipated.
