Banks' household mortgage lending rates up for 5th month in Sept.

Banks' household mortgage lending rates rose for the fifth consecutive month in September, driven by increasing market interest rates. This trend is a sign of the central bank's efforts to control inflation by raising borrowing costs. The higher interest rates will make borrowing more expensive for households, which could slow down the economy's growth. As a result, this development may impact consumer spending and overall economic activity.

Why it matters

Rising market interest rates are causing banks to increase their mortgage lending rates. This could lead to higher borrowing costs for households and potentially slow down the housing market.

Market impact

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