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UK mortgage approvals, money supply fall in February


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UK mortgage approvals, money supply fall in February

Mortgage approvals for house purchases in the U.K. fell below their previous six-month average in February, declining to 63,910 from 67,110 in the prior month.

Remortgaging approvals decreased to 46,622 from 48,690, below the prior six-month average, data from the Bank of England showed.

Meanwhile, M4 money supply decreased 0.3% in February from the previous month, but was up 4.1% year over year.

Secured lending grew at an annual rate of 3.3% in February, unchanged from the previous month. The annual growth rate of consumer credit edged up to 9.4% from 9.3% in the prior month.