Monday, November 30, 2009
Mortgage approvals up, consumer credit down
Posted by David Smith at 10:15 AM
Category: Thoughts and responses

Bank of England data showed a modest rise in monthly mortgage approvals, from 56,205 in September to 57,345 in October. The eye-catching figure, however, was a 0.6 billion fall in consumer credit. It means another fall in the total owed by individuals to the banks. Debt has levelled off in the past year. More details here.

Also, the Bank said that M4 lending was broadly flat in October, excluding the effect of securitisations, and that its growth rate was "less negative" at 3.2%. A small comfort. More here.