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UK mortgage approvals hit 13-year high

UK mortgage approvals hit 13-year high

Data from the British Central Bank showed that mortgage approvals rose to its highest levels of 13 years in August, which reflects the bounce in the housing market after closing due to the corona crisis.

The numbers showed that a large part of the family sector has begun in savings operations in anticipation of the unrest that may occur because of the second wave of the Corona crisis, which may be accompanied by more lockdown procedures.

Consumer lending fell by 3.9% in August compared to the same month of 2019, this is more drop since the beginning of the data calculation in 1994.

The GBP has risen to the fourth session in the row and the highest level at 1.2886 after opening the day at 1.2825.

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