UK interest rates: How high could they go?

the government's English Housing SurveyAfter a period of ultra-low rates, many homeowners are now facing the possibility of much more expensive monthly repayments.

This comes on top of increases following the previous recent rate rises. Compared with pre-December 2021, average tracker mortgage customers would be paying about £284 more a month, and variable mortgage holders about £179 more.Their monthly payments may not change immediately, but with lenders now anticipating higher rates, any new deals will be more expensive. That means new house buyers - or anyone seeking to remortgage - will also have to pay more.

Expect a high noon of sorts for interest rates, as the nine members of the committee who decide Bank of England base rates reveal how much rates will go up - having a direct impact on many mortgages and business loans.

6%? As high as in the past? They are very low at the moment.

They are already too high - will have no inflation reducing effect (the price shocks from this year will drop it off the calculation month on month), and will cause recession. Which will mean interest rate cuts. Misery and suffering for millions to achieve absolutely nothing.

This will make no difference to the inflation rate that it is meant to be curbing. It should be reducing rates rather than crucifying the population 🤷🏼‍♂️

Why did they ignore their expert economic advice to decouple gas from electricity markets in 2017? We'd been in Ukraine since 2014, and Putin had used gas as a weapon before. Surely the £170bn profit wasn't worth this mess? faisalislam can you report?

Heavy borrowers and credit users are going to be in trouble, with the repossession rate on cars and homes going up

They've already voted last night. They know the rate. BBC probably knows it too. But us mere mortals must wait until noon for some reason.

Why are you not reporting that any increase today isn't expected to increase fixed rate deals as other factors influencing them are easing. Middle of next year, fixed rates will settle around 4-5% which will be the norm going forward (and always was the norm).

BoE will likely be cautious. Market will probably want more than that. So it’ll cause a small dip that will likely go back up afterwards. The £ is exiting the lows it has been feeling for sometime now.

All the way to the top so far. Who's next RishiSunak?

A mini course on the bleedin’ obvious for schools, junior schools.

The last time the tories completely trashed the UK economy interest rates reached 17%.

Very High Unfortunately More Poverty after Brexit

5% base 10% mortgage 15% used cars

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fed set to raise interest rates by 0.75 percentage points for fourth time in a row\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t Buy doge
Source: FT - 🏆 113. / 51 Read more »

Interest rates will stop rising – and we are very near the peakThis is a global earthquake – but like all such movements, at some stage interest rates will stop rising, plateau, and start to fall back But how high will that be, and when might they start to fall again? Read HamishMcRae5's newsletter here 📨⤵️
Source: i newspaper - 🏆 8. / 89 Read more »

Rising Interest Rates Weigh On Renewable Growth | OilPrice.comRenewable energy stocks are having a hard time, even in the middle of Europe’s energy crisis. It seems that the sector needs central banks to take their foot off the gas in hiking interest rates, but it may have to wait a little longer.
Source: OilandEnergy - 🏆 34. / 68 Read more »

How Raising Interest Rates Helps Fight InflationHere's why Fed Chair Jerome Powell just raised interest rates, again Uh inflation? Because he's a Putin's agent destroying US economy and rich people luv it!
Source: TIME - 🏆 93. / 53 Read more »

US interest rates rise sharply to highest since 2008 as inflation battle ragesUS ramps up interest rates as pressure mounts on Bank of England ahead of meeting to decide UK borrowing costs
Source: i newspaper - 🏆 8. / 89 Read more »

UK interest rates: How high could they go?Interest rates are expected to see their biggest jump for decades, so how could this affect you? 5% base 10% mortgage 15% used cars
Source: BBCNews - 🏆 3. / 97 Read more »