UK mortgage approvals declined to the lowest since mid-2020 in April as rising interest rate and cost of living weighed on the housing market activity, data from the Bank of England showed on Tuesday.
Mortgage approvals for house purchases decreased to 66,000 in April from 69,500 in March. This was the lowest since June 2020 and slightly below the twelve-month pre-pandemic average up to February 2020 and the expected level of 69,000.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.