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Boe Trends In Lending, Sep/09

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BoE Trends in Lending, Sep/09

Mortgage approvals for house purchase +7% MoM in Aug

Major UK banks, lending panel data, SA (red circles)

Jul 53k

Aug 57k +7% MoM

Suggests that mortgage approvals for house purchase are continuing in current trend. Only a partial count, but gives an early indication of the whole of market BoE figures to be published on Wed/30th.

Updated chart, today

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Link to BoE report, released today 18/Sep/09

http://www.bankofengland.co.uk/publication...dsinlending.htm

Edited by spline

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These are the SA figures and they’re showing a slow but robust climb-out from a very severe collapse; there is currently a good correlation between the approval numbers and the builders’ share price so I’d expect to see a drop in (say) BDEV or TW if/when the approvals began to collapse again.

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