Prior 45.35kNet consumer credit £1.4 billion vs £1.4 billion expectedPrior £1.6 billion; revised to £1.7 billionThe net borrowing of mortgage debt by individuals in the UK decreased last month to -£0.9 billion, its lowest since April, as mortgage approvals also fall to its lowest levels since January. It is evident that the market is slowing significantly as the 'effective' interest rate for new mortgages climbs by a whopping 19 bps to 5.01% in September. This article was written by Justin Low at www.forexlive.com.
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