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Evening Standard
Evening Standard
Business
Jonathan Prynn and Joanna Hodgson

Mortgage approvals slump as interest rate hikes take their toll

Bank of England

Banks and building societies approved 10% fewer mortgages in July as activity in the housing market slowed to a crawl.

Latest figures from the Bank of England show there were 49,400 net mortgage approvals last month, down from 54,600 in June.

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