Britain’s BBA mortgage approvals hold steady in January

Forex Pros – Mortgage approvals in the U.K. were unexpectedly unchanged in January, industry data showed on Wednesday.

In a report, the British Banker’s Association said that the number of new mortgages approved in December held steady at 28.9K, unchanged from 28.9K in December, whose figure was revised down from 28.7K.

Analysts had expected the number of mortgage approvals to rise to 29.0K in January.

Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD rising 0.52% to hit 1.6220.

Meanwhile, European stock markets were lower. The FTSE 100 shed 0.72%, the EURO STOXX 50 slipped 0.09%, France’s CAC 40 was down 0.14%, and Germany’s DAX slumped 0.42%.

ForexPros.com