The Bank of England’s lending figures for July 2011 were a mix of positive and negatives news.
The lending secured on dwellings did rise in July by £0.7 billion, which on the face of it is good news this was lower than the 6 month average of £0.9 billion.
Yet the 3 month annualised growth rate actually decreased by -0.1% to 0.5%, although the 12 month growth rate increased by 0.1% to 0.8%
Against a backdrop of 0% change in the lending secured on dwellings in the month of June, these figures are positive, although continues the widely known trend of a flat economy.
The actual number of loans approved for house purchases did however increase to 49,239, having increased consistently over at least the last 4 months. The loans approved for mortgages also increased for at least the 4 month.
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