The number of mortgage or home loans collectively approved by members of the British Bankers Association . This figure is published monthly by the BBA, and is considered to be an important leading indicator about the state of the housing market in the United Kingdom.
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A rising number of mortgage approvals would usually indicate a growing or healthy housing market, while a decline in the number of mortgage approvals would imply that the housing market is sluggish. The BBA is the main trade association for the U.K. banking and financial services sector.
