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The Latest Breaking News from Interest Rates

Mortgage ‘ticking timebomb’ I warned of has exploded, says Martin Lewis

Comments come as data shows average two-year fixed rate rises to 6.07%, and five-year to 5.72%

The Guardian - UK

Martin Lewis' warning to millions of homeowners as mortgage ticking time bomb is 'exploding'

The Money Saving Expert appeared on Good Morning Britain to issue some crucial advice

Manchester Evening News

When will mortgage rates come down? Interest rate remains high after Bank of England update

The Bank has kept the base interest rate the same once again

Evening Standard

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‘Per capita recession’: Banks forecast longer downturn as more interest rate rises loom

Australia facing a multi-year per capita recession and even a quarter of negative economic growth in early 2024 with higher interest rates.

The New Daily

Martin Lewis says ticking time bomb he warned of is ‘now exploding’

The Money Saving Expert reveals what he thinks banks need to do to ease pressure on homeowners as more mortgage deals are pulled

The Independent UK

Martin Lewis says mortgage ticking time bomb is now exploding

Martin also says that he could not see a Government mortgage rescue package being brought in, as rates continue to rise

Chronicle Live

Martin Lewis warns mortgage ticking time bomb is 'exploding'

The money saving expert warned of a "nightmare" and said people are going to have to "readjust" their finances

Liverpool Echo

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Martin Lewis says the 'ticking time bomb is now exploding'

He explained what action you need to take as soon as you can

Wales Online

Mortgage ticking time bomb is now exploding, says Martin Lewis

Mr Lewis said he had given his views at a mortgage summit held by Chancellor Jeremy Hunt last year.

The Independent UK

Michael Gove says 25-year fixed rates could ease mortgage crisis

Housing secretary suggests Canadian-type deals – as Sunak government under pressure to end ‘mortgage horror show’

The Independent UK

‘Finely balanced’: June interest rates hike was sparked by fresh inflation fears, minutes reveal

The Reserve Bank's decision to raise interest rates to a fresh decade high in June was "finely balanced", minutes reveal.

The New Daily

Bankrate: Why is portfolio diversification important for investors?

Portfolio diversification involves investing in many different securities and types of assets so that your overall return doesn’t depend too much on any single investment. Financial experts often recommend a diversified portfolio because it reduces risk without sacrificing much in the way of returns. In fact, you may ultimately earn…

Tribune News Service

Westminster is 'hammering home owners and first time buyers', SNP say

The SNP have said Westminster is “hammering home owners and first time buyers” after the Bank of England raised interest rates.

The National (Scotland)

Government urged to end ‘mortgage horror show’ as average two-year rate tops 6%

Calls for intervention were made as the average two-year fixed-rate mortgage deal topped 6% for the first time this year.

The Independent UK

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Daily Mirror

Mortgage costs could rise by an average of £2,900 a year for 800,000 people

The Resolution Foundation predicts that the Bank of England's base interest rate could peak at nearly 6% by next year - currently, the base interest rate is 4.5%

The Independent UK

‘This is going to sting’: What would a mortgage crisis mean for homeowners and renters?

Current rates of nearly 6 per cent causing equivalent ‘stress’ to double-digit rates of 1980s, Andy Gregory writes

The Guardian - UK

Average two-year fixed rate mortgage deal hits 6% for first time this year, as Sunak rules out extra help – business live

Average mortgage rates hit highest level since December, as asking prices for British homes fall in June for the first time in six years

The Independent UK

Sunak rules out mortgage support as he urges banks to help struggling homeowners

PM wants banks to offer ‘bespoke support’ – as average two-year fixed-rate mortgage hits 6% and lenders pull deals

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Evening Standard

Mortgage help ‘not ruled out’, says minister Michael Gove

The Levelling Up Secretary adds he does not have a mortgage himself

The Guardian - UK

‘Anyone want to buy?’: Turkish lira falls as traders await uplift in economy

Mood is tense among currency traders in Istanbul’s Grand Bazaar, with country reeling from a profound economic crisis

Al Jazeera

Why is the Turkish lira’s value still falling?

Experts say the ‘suppressed’ lira is reaching its true value as they forecast a continued fall against the dollar.

The Guardian - UK

Millions are facing soaring mortgage rates. How did we leave them so vulnerable?

Homeowners in Britain are especially at risk because of a shortage of long-term loans. The sooner the Bank of England acts to fix this the better

The New Daily

More rate pain ahead? This week will provide some clues

The Reserve Bank's next move on interest rates remains shrouded in uncertainty but two senior officials may provide some clues.

The Guardian - UK

Sunak, Hunt and homebuyers brace for an economic Big Wednesday

The midweek inflation bulletin could be the most significant piece of government data published this year

The Independent UK

More mortgage misery as average bills to rise £2,900 next year

Homeowners facing ‘mortgage crunch’ next year as lenders hike price in response to rising interest rates

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