Residential mortgage origination has continued the downward trend. The explanation given is that consumers remain wary of making larger transactions. This in addition to other forms of credit remaining stable but relatively unchanged. Per UK finance, all forms of consumer credit have eased slightly – meaning the growth rate stayed positive but was reduced. This consisted of stable credit card growth rate combined with a decline in overdrafts and personal loans. The cause of this easing, per the article, is related to economic and political uncertainty impacting consumer confidence.

Read more: Housing market under pressure as mortgage approvals fall for sixth consecutive month – This is Money