UK DATA: Sep Mortgage Approvals Fall; Unsecured Credit Rises
–BOE: UK Sep House Purchase Approvals 50,967 vs 52,347 Aug
–BOE: Overseas Gilt Holdings Rose by stg12.012bln m/m in Sep
–BOE: UK Sep Net Mortgage Lending Change m/m stg346mn Vs stg523m Aug
–BOE: UK Sep Net Consumer Credit stg629mn; Vs stg478mn Aug
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Mortgage approvals fell in September, although less far than
analysts’ had expected and unsecured borrowing picked up. The record low
borrowing rates had appeared to be boosting mortgage demand, but after
four consecutive monthly rises September saw a drop back.