UK May mortgage approvals 63.03k vs 59.75k expected

• Prior 60.46k; revised to 60.66k
• Net consumer credit £0.9 billion
• Prior £1.6 billion; revised to £1.9 billion

Net borrowing of mortgage debt by individuals went up by £2.8 billion to £2.1 billion in May, following a large decrease in net borrowing of £13.8 billion to -£0.8 billion in the month before. Meanwhile, net mortgage approvals also increased slightly in May with approvals for remortgaging increasing by 6,200 to 41,500 – the largest increase since February 2024.

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