The thousand of households taking out new mortgages in November was the lowest in more than a year, according to formal figures.
UK Finance said High Street banks approved 39,507 mortgages during the month, the lowest since August 2016.
The personage represents a 5% fall on the same month a year ago.
November was the month when the Bank of England confirmed its decision to increase base rates to 0.5%, the first rise in a decade.
Tons banks also increased the cost of fixed-rate mortgages before the advert, which may have discouraged some buyers.
Howard Archer, chief cost-effective adviser to the EY Item Club, said housing market activity may have planned taken a dent as a result of the Bank of England move.
“While the enhancement was only 0.25%, and mortgage rates are still very low, there may bear been a significant impact on potential buyers’ psychology,” he said.
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Towards the end of November Stamp Duty was abolished for first-time clients on properties worth up to £300,000.
So it is possible that the number of mortgage approvals may rescue once December’s figures are published.
Mr Archer added that 2018 would be a most challenging year for the housing market, with activity likely to be “colourless” and house price rises limited to around 2%.
While the million of mortgage approvals fell in November, the amount being borrowed be engendered a arise significantly.
High Street banks lent £13.9bn for mortgages in November, a 13% hillock on the same month in 2016.
The annual growth in credit card borrowing be produce to 5.3%, from 5% in October.
However that compares with eminence growth of 6.4% in April 2017.
Mr Archer said the overall trend in honesty card borrowing was now on a downward path.
“While net credit card sponge rose in November, the Bank of England will likely take some luxury from the recent overall slowing trend in the growth rate, and thinks fitting be looking for a continuation of this trend in 2018.”
UK Finance said the figures over the fact that credit cards were becoming consumers’ entered method of payment, mirroring the declining use of loans and overdrafts.