UK Mortgage Approvals Remain Solid
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UK mortgage approvals for house purchases slightly decreased to 65,018 in October 2025, surpassing expectations of 64,200, indicating a gradual housing market recovery amid declining interest rates. Remortgage approvals fell by 3,600 to 33,100. The effective interest rate on new mortgages dropped to 4.17%, the lowest since January 2023, while the rate on outstanding mortgages remained at 3.89% for the third month.
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