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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United KingdomUnited Kingdom BBA Mortgage Approvals fell to 36.12K in December 2017
FMPMonthlyReleased January 2018
United Kingdom BBA Mortgage Approvals fell to 36.12K in December 2017, released January 2018, down 2.89K from November's 39.01K reading. The reading missed the 39.7K consensus by 3.59K. BBA Mortgage Approvals has now declined for 5 consecutive months. Over the past 3 months, BBA Mortgage Approvals averaged 40.0K, vs 41.66K in the prior 3-month window. BBA Mortgage Approvals is now the lowest in 37 months.
Latest Release
36.115
Actual
39.7
Consensus
39.007
Previous
Median Absolute Error
±0.63 thousand
across last 12 releases
Last Call
Jan 2018
Predicted: 39.36
Actual: 36.12
Error: +3.24
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| GBP/USD | ▲ Direct | +0.50 | FOREX | Bullish GBP | → View |
| EUR/GBP | ▼ Inverse | −0.45 | FOREX | Bearish EUR | → View |
| GBP/JPY | ▲ Direct | +0.40 | FOREX | Bullish GBP | → View |
| FTSE 100 | ▲ Direct | +0.35 | INDEX | Bullish UK | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
BBA Mortgage Approvals (United Kingdom) was reported at 36 thousand in January 2018. This missed the market consensus of 40 thousand by 4 thousand. The reading fell from the previous value of 39 thousand. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 39 thousand, down from the prior three at 42 thousand.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with GBP/USD (Bullish GBP). A secondary relationship exists with EUR/GBP, negatively correlated (Bearish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 1 thousand.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include S&P Global Construction PMI (Jul 6) and Halifax House Price Index MoM (Jul 7).
Auto-generated from current model state · Refreshes on each release · Last update January 2018.
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BBA Mortgage Approvals - UK
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About BBA Mortgage Approvals — United Kingdom
DEFINITION
BBA Mortgage Approvals is a widely recognized financial indicator that measures the number of mortgages approved by the British Bankers' Association (BBA) in a given period of time. This indicator provides valuable insights into the current state of the housing market and the overall health of the economy, as mortgage approvals are a key indicator of consumer confidence and borrowing activity. It is closely monitored by investors, policymakers, and economists as it can help predict future trends in the housing market and inform decision-making in the financial sector.
WHY THIS INDICATOR MATTERS
Housing data leads broader economic cycles by several months and is highly rate-sensitive, with knock-on effects to construction, materials, and consumer credit. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Dec 2017): actual 36.12 K, consensus 39.7 K. Prior reading (Nov 2017): 39.51 K. Before that (Oct 2017): 40.5 K.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with GBP/USD (Bullish GBP, r=0.50) — a useful reference for forex-focused traders.
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