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New mortgage approvals down 58%

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01-30-2009, 06:33 PM

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New mortgage approvals down 58%

The Bank of England has reported a slight rise in new mortgage approvals.During December, 31,000 home loans were approved for new purchases, up from 27,000 a month earlier.However, the figure is the second-lowest on record, having edged ahead from the nadir of November.According to the Bank, new mortgage approvals fell by 58% during 2008 with [...]

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