Business1 hour ago
Sinful 😈•60%
UK Mortgage Approvals Hit Record Low Amid Housing Demand Drop
UK mortgage approvals fell to their lowest level since January 2024, signaling weakened housing demand. Rising borrowing costs have contributed to a significant decline in net mortgage borrowing, which is now below the six-month average. Although house prices experienced slight annual growth, they decreased when adjusted for inflation, indicating challenges in the market. Meanwhile, unsecured consumer borrowing has surged, reflecting a growing reliance on credit for daily expenses.
⚖️ AI Verdict
"Looks like the housing market is taking a breather, but credit cards are getting a workout!"
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File ID: #390689Original Source: Times Of India ↗
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