Investing.com – Mortgage approvals in the U.K. fell unexpectedly in June, industry data showed on Tuesday.
In a report, the British Banker's Association said that the number of new mortgages approved in June fell to 33.7K, after declining to 34.8K in May.
Analysts had expected the number of mortgage approvals to increase to 35.3K in June.
Commenting on the report, BBA statistics director, David Dooks said "Gross mortgage lending remains stable, although demand for mortgages continues to be subdued."
He added, "Consumer credit outstanding continues to reflect high repayments together with pressure on household finances and job uncertainty while companies are tending to retrench and reduce their bank borrowing."
Following the release of that data the pound was down against the U.S. dollar, with GBP/USD shedding 0.75% to hit 1.5396.
In a report, the British Banker's Association said that the number of new mortgages approved in June fell to 33.7K, after declining to 34.8K in May.
Analysts had expected the number of mortgage approvals to increase to 35.3K in June.
Commenting on the report, BBA statistics director, David Dooks said "Gross mortgage lending remains stable, although demand for mortgages continues to be subdued."
He added, "Consumer credit outstanding continues to reflect high repayments together with pressure on household finances and job uncertainty while companies are tending to retrench and reduce their bank borrowing."
Following the release of that data the pound was down against the U.S. dollar, with GBP/USD shedding 0.75% to hit 1.5396.