UK consumer borrowing jumps as mortgage approvals dip — what the Bank of England data shows
UK consumer borrowing rose by £2.08 billion in November, the largest increase in two years, Bank of England data showed Monday. Mortgage approvals for house purchases slipped to 64,530 from 65,010 in October. Credit card borrowing grew at an annual rate of 12.1%. The average interest rate on new mortgages rose to 4.20%, while credit card rates hit 21.60%.