UK mortgage approvals hit 12-month high in January – BBA. The BBA said its members gave the green light to 44,657 mortgages in January, up from 43,581 in December and the highest number since.
Total net mortgage lending was up 2.162 billion pounds on the month, the biggest rise since December 2017 though again slightly weaker than a year earlier. "Growth in mortgage lending continues to be driven by remortgaging, as borrowers take advantage of attractive deals ahead of an anticipated Bank rate rise," said Eric Leenders, UK Finance’s.
Mortgage rates hit yet another record low this week with the 30-year fixed rate falling to an average of 3.87% and the 15-year fixed dropping to 3.14%, according to Freddie Mac.
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