UK mortgage approvals decreased in October as demand for mortgages to buy houses weakened ahead of the budget announcement, data from the Bank of England showed Monday.
Net mortgage approvals for house purchases, an indicator of future borrowing, fell by 600 to 65,000 in October. However, this was well above economists' forecast of 64,000.
The 'effective' interest rate, which is the actual interest paid on newly drawn mortgages was 4.17 percent in October compared to 4.19 percent in September. This was the lowest since January 2023.
For comments and feedback contact: editorial@rttnews.com
Business News
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.