Positive News From The UK: Mortgage approvals continue to rise

Submitted by Juan Cajigas, from the UK

By Tanya Powley

The number of mortgages approved for house purchase rose in November to 60,518, the highest level since March 2008, according to the latest figures from the Bank of England (BoE).

Oliver Gilmartin, senior economist at the Royal Institution of Chartered Surveyors, said the BoE’s figures supported its view that “increasing momentum” in the housing market would see further rises in house prices during early 2010.

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