UK mortgage approvals rise amid housing revival
Business lending declines the most on record in June; cheap borrowing costs stoke demand for homes
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UK mortgage approvals rose more than economists' forecast in June in a sign of continued momentum in the housing market. Lending to businesses fell the most on record.
Home-loan approvals climbed to 66,582 from an upwardly revised 64,826 in May, the Bank of England (BOE) said in London on Wednesday. Economists had forecast a figure of 66,000, according to a Bloomberg survey.
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