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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe, Graeme Wearden and Heather Stewart

UK mortgage borrowers brace for rate jump amid global bond sell-off

United Kingdom Oil Inflation Interest Rates
Someone walking past a row of For Sale signs on properties
The five-year swap rate rose above 4.52% on Wednesday, which is expected to result in higher interest rates on fixed-term mortgages. Photograph: Bloomberg/Getty Images

Homeowners in the UK are braced for a jump in mortgage rates, driven by higher inflation and interest rate increase expectations amid turmoil in the global bond markets.

UK swap rates, which lenders use to price mortgages, have risen to a three-year high, as this week’s global bond market sell-off ripples through the economy.

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