Mortgage approvals hit their highest level in seven months near the end of last year, official data has revealed - as more lenders announce rate cuts. New figures from the Bank of England (BoE), published on Thursday, show that more than 50,000 loans for home purchases were rubber-stamped in November - the highest number since June 2023 and more than expected. It comes amid growing optimism that the housing market is gradually recovering from dampened demand last year amid high mortgage rates and cost of living pressures on consumers. Money latest: Where do markets expect interest rates to go? The average two-year fixed mortgage…
