Mortgage Approvals in the UK Rise a little

[Damian George]

Bank of England May mortgage approvals rose a little (43,414 from 43,191 in April) but mortgage lending slumped to the lowest level on record (£324 million from £908 million in April). Consumer credit was up, though (£300 million from £200 million). Market News says “The data overall highlight the struggle to get lending flowing again in the UK economy.” Remember, what they get in Britain, we get in the US six months later.

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