UK Mortgage Approvals Rise to 58,200 in June, But Default Rates Hit 17-Year High

According to Jin10, the Bank of England reported on Wednesday that mortgage approvals rose to 58,200 in June, surpassing economist forecasts of 57,100. However, the figure remains below the six-month average of 61,435 approvals.

Delinquency concerns loom larger: the BoE's survey showed that the proportion of lenders reporting rising default rates exceeded those reporting falling rates by 34%, marking the highest level since 2009—a significant jump from 18% in Q1 2026.