India, Sept. 1 -- UK mortgage approvals declined to the lowest since early 2024, while consumer credit reached its highest level since late 2025, the Bank of England said Tuesday.
The number of mortgages approved in July declined unexpectedly to 56,053 from 58,215 in June. This was the lowest since January 2024. Approvals were forecast to increase to 59,000.
The 'effective' interest rate, which is the actual interest paid on newly drawn mortgages increased to 4.45 percent from 4.35 percent in June.
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