U.K. mortgage approvals increased marginally in October, the Bank of England reported Monday.
The number of mortgages approved for house purchases rose to 69,630 in October from 69,012 a month ago.
It was also above the average of 68,099 over the previous six months but slightly below the expected level of 69,900.
Lending secured on dwellings increased by GBP 3.6 billion in October, compared to the average monthly increase of GBP 2.8 billion over the previous six months.
At the same time, consumer credit increased by GBP 1.2 billion in October, slightly smaller than September’s growth of GBP 1.3 billion. It was expected to rise again by GBP 1.3 billion.
The broad money supply M4 climbed 0.6 percent from September, when it fell 1 percent. On a yearly basis, it gained 0.2 percent in contrast to September’s 0.5 percent decrease.
The material has been provided by InstaForex Company – www.instaforex.com