UK April mortgage approvals 60.46k vs 63.00k expected

• Prior 64.31k; revised to 63.60k
• Net consumer credit £1.6 billion vs £1.1 billion expected
• Prior £0.9 billion; revised to £1.1 billion

The data is out a little earlier than scheduled. Net borrowing of mortgage debt by individuals decreased sharply in April, down by £13.7 billion to -£0.8 billion. This followed an increase in net borrowing by £9.6 billion in March. Despite that, the annual growth rate for net mortgage lending only decreased from 2.7% to 2.5% for April. As for consumer credit, the annual growth rate is seen increasing from 6.2% in the month before to 6.7% in April.

This article was written by Justin Low at www.forexlive.com.