LiveMore Capital comments on the BoE Money and Credit figures for June

Simon Webb, Managing Director of Capital Markets and Finance at LiveMore Capital, comments on the publication of BoE Money and Credit figures for June.

“The drop in mortgage borrowing by some £2.7 billion heralds the move towards the slower time for house purchases during the summer months.

“However, combined with a drop by 2,000 of approvals for house purchases, these reductions may also reflect a growing nervousness in the market as interest rates rise. 

“That said, at £5.3 billion, the level of borrowing still sits above the 12-month, pre-pandemic average up to February 2020 of £4.3 billion.”

Kindly shared by LiveMore Capital

Main photo courtesy of Pixabay