DEFINITION of 'BBA Mortgage Approvals'
The number of mortgage or home loans collectively approved by members of the British Bankers Association (BBA). This figure is published monthly by the BBA, and is considered to be an important leading indicator about the state of the housing market in the United Kingdom.
BREAKING DOWN 'BBA Mortgage Approvals'
A rising number of mortgage approvals would usually indicate a growing or healthy housing market, while a decline in the number of mortgage approvals would imply that the housing market is sluggish. The BBA is the main trade association for the U.K. banking and financial services sector.