UK BBA May mortgage approvals 40.347k vs 40.250 exp
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
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