U.K. Mortgage Approvals Rise Further: BoE

(RTTNews) - U.K. mortgage approvals increased for the ninth consecutive month in November, the Bank of England said Friday.

The number of loans approved for house purchases was 70,758 in November, up from 68,029 in October. Approvals also exceeded the 69,700 level forecast by economists.

Lending secured on dwellings grew GBP 0.9 billion, compared to the average monthly increase of GBP 1 billion. Consumer credit, at the same time, rose GBP 0.6 billion versus GBP 0.5 billion in October.

The monetary aggregate, M4 grew at a faster pace of 2.7 percent annually, after rising 2.4 percent in October. Month-on-month, M4 remained flat compared to a 0.1 percent rise in October.