UK mortgage approvals hold firm as markets await interest rate cut
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 29 2024
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Source: Yahoo Finance
Mortgage Approvals Steady: The UK housing market shows signs of stabilization with 60,000 mortgage approvals in June, a slight decrease from May, while borrowers took on £2.7bn in mortgage debt, indicating sustained borrowing confidence despite high interest rates.
Future Outlook: Experts suggest that the upcoming changes to the Bank of England's base rate and government initiatives for new home construction may further boost buyer sentiment and activity in the housing market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
