U.K. Mortgage Approvals Tick Higher in April, According to BBA

U.K. BBA mortgage approvals were 27.7k in April, up marginally from 26.7k in March, adding to evidence that the mortgage market has now stabilized, but this was still 15.5% lower y/y. Net mortgage lending was only GBP2.7 bln, however, versus a revised 3.4 bln in March.