British mortgage approvals reach 5-month maximum in June

British mortgage approvals reach 5-month maximum in June

In June, Britain's housing market managed to surge because mortgage approvals reached a five-month maximum, as the Bank of England informed on Monday.

Apparently, the figures turned out to be in line with expectations. Most probably, they won’t change the debate around the major bank’s policy verdict on Thursday, and it’s believed to provoke another interest rate lift.  

In June, UK lenders approved up to 65,619 mortgages in contrast with May’s outcome of 64,684. It’s quite close to the consensus figure of 65,500 in a Reuters survey of market experts.

Moreover, Monday's outcome also disclosed a stronger than anticipated leap in lending to British customers.

The vast majority of market experts surveyed by Reuters are assured that the bank of England is on the verge of lifting rates to another post-financial crisis maximum of 0.75% on Thursday.

The major bank is convinced that inflation pressure is starting to strengthen and that a deceleration in the British economy in the begging of this year was provoked mostly by strikingly cold winter weather.

However, wage surge hasn’t manage to pick up a lot and some market experts are concerned that domestically generated inflation pressure is going down that would make a rate lift worthless and even harmful to households.

The previous week industry body UK Finance informed that in June banks' mortgage approvals for home purchase reached a nine-month maximum, as follows from seasonally updated figures.

Besides this, net mortgage lending ascended by 3.851 billion pounds. As for consumer lending, it managed to soar by 1.567 billion pounds in contrast with an estimate of a leap of 1.3 billion pounds.

Consumer credit surge has been speeding down gradually since it soared by 11% in January 2016.

Britain’s key bank has rejected a probability of a debt bubble.






CPI Wednesday: the Doomsday for EURUSD and GBPUSD?
CPI Wednesday: the Doomsday for EURUSD and GBPUSD?

Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!

Latest news

USD Gains Momentum
USD Gains Momentum

The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera