UK mortgage approvals posted a surprise fall in October from September, British Bankers Association data showed.
October mortgage approvals fell to 42,808 from 43,182 in September. While only a handful of analysts forecasts the BBA data, the consensus was for another rise in October to some 45,000.
The data still show the pick-up in housing market activity of late, as the 42,808 outturn was still the second highest reading since back in January 2008 but it ends a run of seven consecutive monthly rises.
The BBA high street lending data showed UK consumers still have negligible appetite to increase unsecured borrowing. Net seasonally adjusted credit card credit was up just stg34 million on the month in October.
Overall M4 lending shrunk in October, declining stg9.261 billion, the largest fall since April.
via Deutsche Borse