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The Latest Breaking News from Interest Rates

Wednesday briefing: How to solve the UK’s mortgage mess, as interest rates rise again

In today’s newsletter: Rising inflation and interest rates mean real pain for homeowners – with few signs of relief on the way

The Guardian - UK

Inflation remains frozen on 8.7 per cent ahead of Bank decision on interest rates

ONS says freeze caused by rising prices for plane tickets, recreational and cultural goods and services and second-hand cars

The Independent UK

UK inflation unchanged at 8.7% but prices still rising - what it means for your money

Experts had predicted inflation would fall to 8.4%, heaping pressure on the Bank of England when it announces its latest interest rates decision tomorrow (June 22)

Daily Mirror

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UK inflation stuck at 8.7% in another cost-of-living shock

The higher-than-expected figure likely means more interest rate rises

Evening Standard

Bank of England must ‘create recession’ to fight high inflation, Hunt advisor says, as mortgage rates rise again – as it happened

Member of Jeremy Hunt’s economic advisory council says BoE must create “uncertainty and frailty”, after UK headline inflation was unchanged at 8.7% in May

The Guardian - UK

Powell To Face Congress Amid Criticism Over Fed’s Policy Stance

Questions on interest rates, banking regulation, and inflation to be raised during Powell's testimony.

Zenger

Michael Pascoe: Speech shows RBA clueless on employment

You can rely on the Reserve Bank to miss or downplay a major factor or two when it strays into what’s actually happening in Australia.

The New Daily

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Mortgage-holders say they worry they 'simply won't have any more money'

Soaring interest rates have seen people with mortgages facing big rises in their repayments

Bristol Post

People with mortgages say they worry they 'simply won't have any more money'

Soaring interest rates have seen mortgage holders facing big rises in their repayments

Wales Online

Powell faces tricky task of explaining rate pause in Congress

Federal Reserve Chair Jerome Powell will have an opportunity this week to clarify what many found a confusing message on the path of interest rates, with the added task of assuring Democrats and Republicans the economy is on track.

Tribune News Service

OPINION - Homeowners facing soaring costs shouldn’t expect sympathy from renters

Are homeowners suffering from a severe bout of main character syndrome? A decade of record-low interest rates fuelled a prolonged house price boom that was impervious even to a once-in-a-century pandemic.

Evening Standard

Does raising interest rates help inflation and how does this affect mortgages?

THE average mortgage rate for a two-year fixed deal has risen to a figure that has not been seen since the market reeled from Liz Truss’s…

The National (Scotland)

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

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Evening Standard

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

The New Daily

‘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 Independent UK

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

Chronicle Live

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

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Liverpool Echo

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

Wales Online

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

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

The Independent UK

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 New Daily

‘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.

Tribune News Service

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…

The National (Scotland)

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.

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