( ) -q-21- UNDATED (Correspondent Jeremy House) “keep hiking rates.” Homeowners and renters in the U.K. are facing further grim news as mortgage rates hit levels not seen since unfunded tax cuts announced by the government last fall jolted investors. [CutID: <Cuts> UK-MORTGAGE-RATES-house-q-WEDam.mp3 Time: 21s Title: UK-MORTGAGE-RATES-house-q-WEDam Out-cue: keep hiking rates] TAG: Correspondent Jeremy House […]
Audio
UK mortgage rates spike to highest level since Truss tax plan spooked markets
( ) -q-21- UNDATED (Correspondent Jeremy House) “keep hiking rates.”
Homeowners and renters in the U.K. are facing further grim news as mortgage rates hit levels not seen since unfunded tax cuts announced by the government last fall jolted investors.
[CutID: <Cuts> UK-MORTGAGE-RATES-house-q-WEDam.mp3
Time: 21s
Title: UK-MORTGAGE-RATES-house-q-WEDam
Out-cue: keep hiking rates]
TAG: Correspondent Jeremy House reporting.
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VERBATIM: Financial information company Moneyfacts says the average rate for a five-year fixed rate mortgage in the U.K. hit 6.01%. It comes after the Bank of England has raised interest rates to a 15-year high to battle high inflation. The worry is that mortgage rates could keep rising in the coming months because the bank is expected to keep hiking rates.