Investing.com - Mortgage approvals in the U.K. declined to the lowest level in 17 months in October, dampening optimism over the health of the housing sector, industry data showed on Tuesday.
In a report, the British Banker's Association said that the number of new mortgages approved decreased to 37,100 last month from September’s total of 39,300.
Analysts had expected the number of new mortgages approved to decline to 38,500 in October.
GBP/USD was trading at 1.5671 from around 1.5674 ahead of the release of the data, while EUR/GBP was at 0.7931 from 0.7928 earlier.
Meanwhile, European stock markets were mostly higher. London’s FTSE 100 tacked on 0.1%, the DJ Euro Stoxx 50 advanced 0.45%, France's CAC 40 inched up 0.3%, while Germany's DAX rose 0.8%.
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U.K. BBA mortgage approvals fall to 17-month low in October
Published 11/25/2014, 04:32 AM
Updated 11/25/2014, 04:32 AM
U.K. BBA mortgage approvals fall to 17-month low in October
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