In the U.K., the number of mortgages approved for house purchases fell to 30,238 in May from 32,103 in April, the British Bankers' Association said Wednesday. Economists were forecasting approvals to rise to 33,000.
House purchase approvals were 3.4 percent lower than a year ago. The average house purchase mortgage approval was at GBP 165,300.
Likewise, total mortgage approvals that include house purchases, re-mortgages and other secured lending, declined to 62,063 from 66,613 in the prior month.
In terms of value, housing mortgages totaled GBP 4.9 billion, down from GBP 5.1 billion in April. Overall gross mortgage lending of GBP 7.9 billion in May was below the six month average as the housing market continued to see subdued activity.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.