UK DATA: BOE Jan House Purchase Approvals 58,728 vs 55,019 Dec
–Jan Net Mortgage Lending Stg0.1bn Vs Stg0.987bn Dec
–Jan Net Consumer Credit Up Stg148 mln Vs -Stg46mn Dec
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The number of mortgage approvals rose to their highest level for
more than two years in January, a sign that activity in the housing
market is picking up. Jan Mortgage approvals rose to 58,728 from 55,109
in Dec, above the median forecast of 54,000 and the highest since Dec
2009. Net mortgage lending also posted a monthly rise of Stg1.6 billion
the highest since August 2010, and double the median forecast of Stg0.8
billion. Net consumer credit rose Stg0.1 bn on the month, following a
fall in Dec. Other data showed overseas net purchases of gilts rose
Stg9.408 billion in January, having fallen Stg10.663 billion in
December.