UK November mortgage approvals 67.0k vs 67.2k prior

  • Prior 67.2k
  • Net consumer credit £1.2 billion
  • Prior £0.7 billion; revised to £0.8 billion

Slight delay in the release by the source. Mortgage approvals are seen steadying as conditions start to moderate from the peak in the months before. This comes as housing market activity also eases a little after the stamp duty holiday has expired.

Meanwhile, UK annual consumer credit growth improved to positive territory for the first time since March 2020 – recording a +0.4% y/y reading. That’s a positive development as it reaffirms that credit conditions are picking up again – which will be a boost to the economy if the trend is sustained this year.

UK credit 11-2021

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