UK mortgage approvals climbed to the highest level in six months in a further sign that falling borrowing costs are bringing buyers back to the housing market.
Banks and building societies authorized 50,459 home loans in December, up from 49,313 the previous month, the Bank of England said Tuesday. At the same time, consumers took out a extra £1.2 billion ($1.5 billion) in unsecured debt. Both figures were slightly below the expectations of economists.