Mortgage approvals up
24 / Jun / 2009
British mortgage approvals rose 15.8 percent on a year ago in May, ending months of declines in another sign the housing market is stabilising albeit at very low levels, a survey showed yesterday. The British Bankers' Association said that approvals for house purchase numbered 31,162 last month versus 29,018 in April. While that was much higher than a year ago, it still remained well below historical norms. Net mortgage lending rose by just 2.3 billion pounds compared with a 2.5 billion pounds rise in April, the weakest since early 2001