3min chapter

Patrick Boyle On Finance cover image

Britain’s Mortgage Crisis!

Patrick Boyle On Finance

CHAPTER

The Bank of England's Rate Rise Is the Highest Rate in More Than 30 Years

The two-year fixed-rate mortgage rate rose above 6% in the U.K. The highest rate since December during the panic over Liz Truss' infamous mini-budget. Rates on buy to let mortgages rose even faster than those on residential deals. This was the 13th consecutive interest rate hike, defying most economists' expectation of a quarter-point increase.

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