Core Viewpoint - The Bank of England reported mortgage approvals for May at £2.054 billion, which fell short of the expected £2.5 billion and significantly improved from the previous value of -£0.8 billion [1] Group 1 - The mortgage approval amount of £2.054 billion indicates a recovery in the housing market compared to the previous negative figure [1] - The expectation of £2.5 billion suggests that market analysts were anticipating stronger performance in mortgage approvals [1] - The significant change from -£0.8 billion to £2.054 billion highlights a notable rebound in mortgage lending activity [1]

Core Insights - The Bank of England reported a significant decrease in mortgage lending for April, with a total of £7.59 billion, down from a previous value of £13 billion [1] Group 1 - The mortgage lending amount for April 2023 was £7.59 billion, indicating a decline of £5.41 billion compared to the previous month [1] - The prior month's mortgage lending figure was £13 billion, highlighting a substantial drop in lending activity [1]