UK mortgage approvals increased to the highest in six months in July but secured lending decreased to a two month low, official data showed Monday.
Mortgage approvals for house purchases, an indicator of future borrowing, rose by 800 to 65,400 in July, the Bank of England said.
This was the highest total since January, when approvals hit 65,775. Approvals were forecast to drop to 64,000.
The 'effective' interest rate, which is the actual interest paid on newly drawn mortgages decreased for the fifth straight month in July. The rate eased to 4.28 percent from 4.34 percent in June.
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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.