The housing market, which has seen modest growth globally these past two months, was seen steadily advancing in Britain with this morning’s publication of mortgage approvals in the UK. The British Bankers’ Association (BBA) published its report on the overall number of mortgage approvals for the last month and revealed a figure slightly above forecasts.
The expected result was for the approval of roughly 31,300 new mortgage approvals by Britain’s primary banks. The report revealed that approximately 31,700 new mortgages were approved, supporting recent findings that the housing market is stabilizing worldwide through these summer months.