Mortgage approvals stay close to record low

Story link: Mortgage approvals stay close to record low

So while the news may seem some what positive, it does still mean that the figures produced which show a 4,000 increase in mortgage approvals are still close to a record low, so we are definitely not out of the dark yet.

Mortgage approvals stay close to record low

U.K. mortgage approvals stayed close to the lowest level since at least 1999 in December as banks rationed lending, deepening the property market slump.
Banks granted 31,000 loans for house purchase, compared with 27,000 in November, the least since the series began a decade ago, the Bank of England said today in London. Economists predicted a drop to 26,000, according to the median of 23 forecasts in a Bloomberg News survey.