(Alliance News) - UK mortgage approvals jumped to a roughly one-and-a-half year high last month, according to numbers from the Bank of England on Tuesday.
The central bank said mortgage approvals rose to 61,300 in March, from 60,500 in February, the highest number of net approvals since September 2022's 65,400.
The effective interest rate paid on newly taken out mortgages eased to 4.73% in March, from 4.90% in February.
Individuals borrowed a net GBP300 million of mortgage debt in March, the BoE said, down from GBP1.6 billion in February.
By Eric Cunha, Alliance News news editor
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