UK Mortgage Approvals Falls to 15-Month Low

British banks approved the fewest mortgages in 15 months in November, when the Bank of England raised interest rates for the first time in more than a decade, industry figures showed on Thursday.Banks approved 39,507 mortgages for house purchase last month, down from 40,417 in October and 5 percent fewer than in November 2016, trade association UK Finance said.At the start of the month, the Bank of England raised interest rates from a record low 0.25 percent to 0.5 percent.

Source: UK mortgage approvals hit 15-month low in November – UK Finance – Reuters

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