Indicators
UK Mortgage Approvals Steady In Sign of Stable Housing Market
"Sold" signs outside homes in the Slade Green district of Greater London.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
UK mortgage approvals held steady near the strongest level in 1 1/2 years, another sign the housing market is stabilizing despite the highest interest rates in 16 years.
The Bank of England said 60,000 new mortgages got the green light in June, about the same as the 60,100 that were pushed thorough the month before. Total lending secured on properties rose to £2.7 billion pounds from £1.2 billion.