UK October mortgage approvals 58.98k vs 60.20k expected

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• Prior 66.79k
• Net consumer credit £0.77 billion
• Prior £0.75 billion

Mortgage activity eases further with the effective’ interest rate on newly drawn mortgages seen increasing by 25 bps to 3.09% in October. Meanwhile, net borrowing of mortgage debt by individuals decreased from £5.9 billion to £4.0 billion on the month. As for consumer credit growth, the annual reading decreased slightly from 7.1% in September to 7.0% last month.