UK December mortgage approvals 50.46k vs 52.50k expected

<ul><li>Prior 50.07k; revised to 49.31k</li><li>Net consumer credit £1.2 billion vs £1.4 billion expected</li><li>Prior £2.0 billion; revised to £2.1 billion</li></ul><p>Net mortgage approvals for home purchases rose in December as the 'effective' interest rate on newly drawn mortgages fell for the first time since November 2021. The rate declined by 6 bps to 5.28% last month. As a whole, individuals repaid £0.8 billion of mortgage debt in December compared to net zero in November.</p>

This article was written by Justin Low at www.forexlive.com.