UK BBA May mortgage approvals 40.347k vs 40.250 exp

Author: Mike Paterson | Category: News

UK BBA May mortgage data 26 June

  • 40.686k prev down from 40.75k
  • -3.3% yy
  • net mortgage lending GBP +1.767bln vs 1.528bln prev
  • credit card lending £110m vs 319m prev
  • net lending to non-financials £23m vs -587m prev
  • consumer credit 5.1% vs 6.4% prev

Seems like household debt still building but notes of caution as rate slows to levels not seen since 2015

Says the BBA: 

"This month's figures show that in the run up to the General Election, credit growth in personal loans, cards and overdrafts has slowed, which was reflected in lower spending; with increased household costs affecting growth in deposits and saving.

Businesses appear to be weighing up their options before raising finance to fund projects or developments.  After a long period of subdued company borrowing, overall growth is starting to stabilise at a modest rate."

Full report here

GBPUSD back up testing 1.2750 after the retreat into 1.2720 as EURGBP heads lower to 0.8772

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