UK mortgage approvals reach 15-month peak
British lenders approved 65,945 mortgages in April, marking a 15-month high and exceeding economist forecasts of 62,000. The increase comes despite weaker consumer sentiment and rising mortgage rates following February's Iran war onset. Consumer credit also grew faster than expected, with net unsecured lending rising to £1.859 billion.
British lenders approved 65,945 mortgages in April, reaching a 15-month high as housing demand defied rising interest rates. The figure surpassed the 63,979 approvals recorded in March and beat the 62,000 median forecast from a Reuters poll of economists. Net unsecured lending to consumers rose by £1.859 billion ($2.50 billion), exceeding the £1.7 billion increase economists had anticipated, though remaining slightly below the £1.904 billion rise seen in March.
