UK mortgage approvals declined unexpectedly to the lowest level in more than a year in April as stamp duty holiday ended in March, data from the Bank of England revealed Monday.
Elsewhere, data from the mortgage lender Nationwide Building Society showed that house prices rebounded unexpectedly in May suggesting momentum in underlying demand.
Approvals for home loans rose to 60,463 in May from 63,603 in the previous month, the central bank data showed. This was the fourth consecutive decrease and hit the lowest since February 2024. Loan approvals were forecast to increase to 65,000.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.