Economic Buzz: UK mortgage approvals up to 58,200 in June

Net mortgage approvals for houses in the United Kingdom rose to 58,200 in June from 56,200 in May, according to a report by the Bank of England published on Wednesday. Approvals for remortgaging increased to 34,200 in June from 33,800 in May. Net borrowing of mortgage debt by individuals jumped to ?7.7 billion in June from ?3.3 billion in May.

Consumer credit grew to ?1.8 billion in June, from ?1.7 billion previously. The annual credit growth rate added 0.1 percentage points month-on-month to 9.1%. The effective rate on new personal loans to individuals was up by 0.01 points to 9.67%.

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