UK mortgage rate hits highest since 2023 as Bank of England prepares to announce interest rate decision – business live

The UK mortgage rate has reached its highest level since 2023, affecting many homeowners and potential buyers. This increase is largely due to the Bank of England's efforts to control inflation by raising interest rates. The Bank of England is set to make a crucial interest rate decision, which will have a significant impact on the UK economy and mortgage rates. This decision will influence borrowing costs and the overall financial situation of many individuals and businesses.

Why it matters

The Bank of England's interest rate decision may lead to increased borrowing costs. This could affect the UK housing market and economy.

Market impact

Markets & countries in focus

Transmission channels

Likely winners & losers

Explore the intelligence

MeridStreet does not reproduce source articles. The summary and analysis above are generated by MeridStreet from public headlines and its own market model; the original reporting belongs to The Guardian. For information only — not financial advice.