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Monday, October 31, 2016

Mortgage Approvals Hit Three Month High

As per Bloomberg:
"Mortgage approvals rose in September to a three-month high, the Bank of England said.

Almost 63,000 loans for house purchase were granted, up from a revised 60,984 in August, it said in a report in London on Monday. Economists in a Bloomberg survey had forecast a figure of 61,500.
The report also showed that consumer credit rose 1.4 billion pounds in September after a 1.6 billion-pound increase the previous month.

The BOE figures suggest that household demand for credit is holding up since the Brexit vote in June. With the economy performing better than expected in recent months, the central bank is forecast to refrain from cutting interest rates this week."
Another couple of nails in the coffin of Project Fear!

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