Despite rises for three months, figures from the British Bankers' Association (BBA) show that the number of mortgages approved for house purchases fell by 25.3% in the 12 months to March and were down by 7% compared with February 2009.
26,097 mortgages were approved in March, down from 34,920 a year ago.
Last week the Council of Mortgage Lenders (CML) reported that 24,300 mortgages were approved in February, up from 23,400 in January.
As to whether this is a temporary "blip", or an indication that the "rally" was no more than a dead cat bounce, only time will tell.
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