Mortgage Approvals Hit Highest Rate Since January 2017
Mortgage approvals in November last year were at their highest rate since January 2017. The month saw over 43,000 mortgage approvals – a rate almost 7% higher than the year before.
This was all following October which saw mortgage approvals fall to a 7-month low.
Speaking on the matter, former RICS Residential Chairman, Jeremy Leaf said:
“Mortgage approvals are generally an interesting take on the recent past as well as useful lead indicator of the direction of travel for the property market. But the willingness of homemovers to take on more debt demonstrates resilience once again, as well as an enthusiasm to take advantage of improving affordability, despite significant political and seasonal distractions…”
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