So your mortgage has just gone up. But where does that money actually go?
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A few weeks ago, before the war in the Gulf and the closure of the Strait of Hormuz, investors were debating how many times the Bank of England would cut interest rates by the end of the year. Now they are debating how many times it will raise them.
One immediate impact of that dramatic swing in interest-rate expectations has been a change in the mortgages banks offer. In mid-February, two- and five-year fixed-rate mortgages were available at below 5%. Now they are both more like 5.8%, a notab
One immediate impact of that dramatic swing in interest-rate expectations has been a change in the mortgages banks offer. In mid-February, two- and five-year fixed-rate mortgages were available at below 5%. Now they are both more like 5.8%, a notab
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