NewsBot
17-Jun-23, 10:20
The Caithness Business Index (http://www.caithness-business.co.uk) has posted the following article:
Mortgage crunch deepens with £15.8 billion repayments rise now on track to bite by 2026
Signs that inflation is proving stickier than expected have raised market expectations for how high the Bank of England will raise interest rates, with total annual mortgage repayments now on course to rise by £15.8 billion by 2026, and by £2,900 for the average household re-mortgaging next year, according to new research published today (Saturday 17 June 2023) by the Resolution Foundation. Official data published in the last month - notably higher than expected inflation and pay growth in April (8.7 and 7.5 per cent respectively) - has raised market expectations that the Bank's rate-rising cycle, which began in December 2021, will continue for longer. [Read Full Article (https://caithness-business.co.uk/article/20496)]
Mortgage crunch deepens with £15.8 billion repayments rise now on track to bite by 2026
Signs that inflation is proving stickier than expected have raised market expectations for how high the Bank of England will raise interest rates, with total annual mortgage repayments now on course to rise by £15.8 billion by 2026, and by £2,900 for the average household re-mortgaging next year, according to new research published today (Saturday 17 June 2023) by the Resolution Foundation. Official data published in the last month - notably higher than expected inflation and pay growth in April (8.7 and 7.5 per cent respectively) - has raised market expectations that the Bank's rate-rising cycle, which began in December 2021, will continue for longer. [Read Full Article (https://caithness-business.co.uk/article/20496)]