UK mortgage approvals declined to a two-year low in January, while consumer credit logged a faster increase, data from the Bank of England showed Monday.
Net mortgage approvals for house purchases decreased unexpectedly to 59,999 in January from 61,007 in December. The number was forecast to rise to 62,000.
The 'effective' interest rate, which is the actual interest paid on newly drawn mortgages, decreased to 4.09 percent in January from 4.15 percent in December.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
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.