Mortgage approvals inch up yet gains to be ‘retracted’The Bank of England has held interest rates. Mortgage approvals rose slightly in June, according to Bank of England data, yet growing fears of a rise in interest rates could set the property market back again. Net mortgage approvals climbed by around three per cent, from 56,565 in May to 58,200 in June. Nathan Emerson, chief executive of Propertymark, suggested the housing market may not have fully recovered as approvals struggle to return to long-term norms. The rise in expectations could once again threaten the housing market and “retract” the gains seen over June.