BBA mortgage approvals (May)
The Mortgage Approvals published by the British Bankers Association measure the number of home loans issued by the BBA during the previous quarter.
A Mortgage growth represents a healthy housing market.
BBA Mortgage Approvals for (May) Previous 42.1K Actual 42.5K
Richard Woolhouse, Chief Economist at the BBA, reportedly said:“Household borrowing remains robust and this is indicative of the wider recovery we’re seeing in the economy.
“The increase in mortgage approvals this month is consistent with the trend we’ve seen since the start of the year. The numbers show that the property market remains buoyant after the general election. Fierce competition between lenders means that there are some great mortgage deals available from the high street banks.