U.K. Mortgage Approvals At 3-Month High

(RTTNews) - U.K. mortgage approvals rose to a 3-month high in November, the Bank of England reported Monday.

The number of mortgages approved for house purchases rose to 70,410 in November from 69,867 in the prior month. It was forecast to rise to 69,900. It was the highest level since August.

Total lending to individuals increased by GBP 5.3 billion in November, within which secured lending climbed GBP 3.9 billion. Economists had expected secured lending to grow GBP 3.7 billion.

Consumer credit increased by GBP 1.5 billion versus October's GBP 1.2 billion growth and the expected rise of GBP 1.3 billion.

Annual growth in M4 more than doubled to 0.5 percent in November from 0.2 percent in October. However, monthly growth eased to 0.4 percent from 0.6 percent in prior month.