The pound has held at £1.143 against the euro, with similar rates reported yesterday.
It follows from a strong week which saw the pound increase from £1.137 at the start.
UK mortgage rates were found to be lower than predicted in February 2018.
According to UK finance, despite lending increasing to £19 billion, this is still lower than the 2017 average of £21.4 billion.
Mortgage approvals also fell in February by 11 per cent compared to 2017.
The number fell from 40,031 to 38,120, below the predicted rates of 39,000 and the lowest since August 2016.
Eric Leenders, personal finance chief at UK Finance commented: “There has been an increase in remortgage approvals compared to last year, as borrowers look to lock in to attractive deals amid speculation of further interest rate rises later this year.
“Real wages continue to be squeezed by inflation, impacting on consumer confidence and retail sales.
“This pressure on household incomes should ease in the coming months, as the effect of the fall in sterling begins to fade and the strong labour market leads to a better outlook for wage growth.”
However, as the need for houses increases, it seems mortgage rates could continue to rise.
It is thought that house prices will flatline in 2018, according to Samuel Tombs, chief UK economist at Pantheon Macroeconomics as “demand contracting faster than supply,” according to the BBC.
Laura Parsons, currency analyst at TorFX, commented on the movement of the pound and what it could see this coming week.
She explained: “The GBP/EUR exchange rate spent Monday fluctuating around the €1.144 level.
“Weaker-than-forecast UK mortgage approvals data had little impact on the pound, while demand for the euro was supported by a positively-revised growth figure for France.
“While there’s no UK data on the calendar today, the Eurozone’s confidence indexes could boost GBP/EUR if they show the decline in sentiment forecast by economists.
“The Eurozone’s gauge of economic confidence is expected to dip from 114.1 to 113.3.”
