U.K. Mortgage Approvals Little Changed in March, BOE Says
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U.K. mortgage approvals were little changed in March as a squeeze on consumers’ incomes weighed on the recovery in the housing market.
Lenders granted 47,557 home loans, up from a revised 46,708 in February, the Bank of England said today in London. The median forecast of 11 economists in a Bloomberg News survey was for an increase to 48,000 from an initially reported 47,000. Net mortgage lending rose 400 million pounds ($660 million) in March, half the average over the previous six months.