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01

U.K. Mortgage Approvals Increase Amid Buoyant Housing Market

By Tony Seruga

Approvals climbed to 70,837 from 70,424 in November, BOE says
Low interest rates, record employment fueling housing demand

U.K. mortgage approvals unexpectedly rose in December, indicating the housing market maintained its momentum going into 2016.

Approvals climbed to 70,837 from 70,424 in November, the Bank of England said on Monday. Economists had forecast a decline to 69,600, according to a Bloomberg News survey. Net mortgage lending was 3.2 billion pounds ($4.6 billion), down from 3.8 billion pounds the previous month…

U.K. Mortgage Approvals Increase Amid Buoyant Housing Market

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