UK mortgage approvals decreased marginally in April and households made record deposits in individual savings accounts or ISAs to take advantage of higher interest rates, data released by the Bank of England showed on Friday.
The number of mortgage approvals dropped to 61,100 from 61,300 in March. Approvals were forecast to rise to 61,500.
Data showed that the effective interest rate on newly drawn mortgages climbed slightly by a basis point to 4.74 percent in April.
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by Renju Jaya
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