Analysis
Analysis: The mix points to stronger unsecured borrowing alongside a softer mortgage pipeline. Effective rates on newly drawn mortgages rose to 4.60% from 4.45%; the rate on interest-bearing card balances was 21.55%. For international credit comparisons, separate loan flows, outstanding-balance growth, approvals and effective rates rather than reading them as one demand measure. Faster card borrowing warrants comparison with repayment and income data before drawing conclusions about household resilience.
What remains uncertain
These are UK statistics for August, not U.S. household data. Increased borrowing does not by itself establish , financial distress or relaxed underwriting.