UK May mortgage approvals 50.52k vs 49.70k expected

<ul><li>Prior 48.69k; revised to 49.02k</li><li>Net consumer credit £1.1 billion vs £1.5 billion expected</li><li>Prior £1.6 billion; revised to £1.5 billion</li></ul><p>Mortgage lending continues to sit in negative territory in May but just barely with individuals repaying, on net, £0.1 billion of mortgage debt. Meanwhile, the annual growth rate for consumer credit is seen steady at 5.5%.</p>

This article was written by Justin Low at www.forexlive.com.