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UK Bankers Association Says Mortgage Applications Drop

Home sales hit their highest level of the year in May but a banking group says the “heat is coming out of the housing market”.

Some 100,360 homes were sold in the UK during the month, up from 95,600 in April, data from HM Revenue and Customs (HMRC) shows.

Sales tend to pick up at this time of year, known as the spring bounce.

But the British Bankers’ Association said mortgage approvals – an indicator of future sales – had dropped.

The association said that the total of 65,132 approvals was down for the fourth month in a row and was 3.5% lower overall than in the same month of last year.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza