The Bank of England’s decision to cut interest rates to a record low of 0.25 per cent is likely to prop up the housing market in the coming months PA:Press AssociationThe housing market looks to be stabilising after a brief dip in activity following the Brexit vote as official figures reveal a rise in mortgage approvals for only the second time since February. Figures from the Bank of England show that there were 62,932 mortgage approvals in September, which was the highest level since June’s figure of 64,484 and the first rise in approvals since May. Jeremy Leaf, an estate agent in north London, said: “While bearing in mind that these numbers are a little historic, they reiterate what we are seeing on the ground that following an initial pause…

Source: The Times October 31, 2016 12:07 UTC