U.K. mortgage approvals for house purchase declined unexpectedly to 31,888 in March from 32,840 in the prior month, data released by the British Bankers' Association (BBA) showed Thursday. Economists were expecting approvals to rise to 34,000.
In February and March, house purchase approvals dropped back to more normal trend levels after some increases earlier in the year as first-time buyers, sought to buy before the stamp duty exemption ended in March.
The total number of mortgage approvals came in at 65,403 in March compared to 65,606 in February.
However, gross mortgage lending of GBP 8.3 billion in March was 6.1 percent higher than in the same period of last year earlier.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.