Mortgage approvals increase in May

Is the glass half empty or half full.

According to seasonally adjusted data from the British Bankers Association, mortgage approvals reached 31,000; 74 percent up from the November peak. However, approvals are down 50 percent from a typical pre-crash month.

For what it is worth, I think there is a recovery taking place. Moreover, I fear that it will gather pace on the coming months.