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The Latest Breaking News from Interest Rates

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

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%

Daily Mirror

‘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 Independent UK

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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 Guardian - 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

The Independent UK

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

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

Evening Standard

‘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

The Guardian - UK

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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.

Al Jazeera

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 Guardian - UK

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 New Daily

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 Guardian - 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

The Independent UK

What are the best options if you are looking for a mortgage?

With interest rates predicted to rise again and cost of fixed-rate deals on the up, here’s what you need to know

The Guardian - UK

Warning over house sales this summer as mortgage rates rise again

Property experts say rising interest rates are continuing to dampen the housing market

Manchester Evening News

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France 24

Cost of importing food set to reach new high of nearly $2 trillion

BUSINESS DAILY - Friday, 16.06.2023: The cost of importing food is expected to reach nearly $2 trillion this year, with inflation increasing hunger and starvation in poorer nations. Also, prior to next week's Paris Air Show, French President Emmanuel Macron is announcing investments in greener ways to fly. Plus, we…

The Independent UK

Average fixed mortgage rates edge closer to 6% as more deals are hiked

The typical two-year fixed-rate deal was sitting at 5.98% on Friday, Moneyfactscompare.co.uk said.

Birmingham Post

Further show of strength for Northern Ireland job market despite gathering headwinds

Both unemployment and employment levels back to pre-pandemic levels, but inflation and rising interest rates temper mood

The Independent UK

Stock market today: Asian shares track Wall Street rally, Tokyo's benchmark at 33-year high

Shares have pushed higher in Asia after a broad-based rally on Wall Street

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The Guardian - UK

What steps could government take to help mortgage borrowers?

As interest rates rise, cash-strapped households need speedy solutions to meet monthly payments

The Conversation

Politics with Michelle Grattan: Community Independent Dai Le on what voters are saying

For most voters, the cost of living is their major current concern. Rising interest rates and high prices for power, groceries and other necessities are hurting in particular lower and middle income people.

Barchart

Stock Rally Continues as Bond Yields Fall on Hopes Fed Rate Hikes Will End

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Thursday closed up +1.22%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +1.26%, and the Nasdaq 100 Index ($IU XX) (QQQ ) closed up +1.20%. Stock indexes on Thursday recovered from early losses and...

Barchart

Dollar Tumbles on Hawkish ECB

The dollar index (DXY00 ) on Thursday fell by -0.80% and posted a 1-month low. Central bank divergence weighed on the dollar Thursday after the ECB raised interest rates by +25 bp and signaled another rate hike in July, whereas the Fed on Wednesday paused its rate hikes. Lower T-note...

Barchart

Stocks Rebound on Hopes Fed is Near the End of its Rate Hike Campaign

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.46%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.68%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.41%. U.S. stocks this morning shook off early losses and...

The Guardian - AU

Strong job numbers could mean more rate rises for Australia. Here’s why a recession isn’t a certainty

Reserve Bank appears determined to raise interest rates at least once more, even if Australia’s economy is slowing

Barchart

Markets Jump to 14-Month highs

Morning Markets The S&P 500 Index ( $SPX ) ( SPY ) is up +0.47%, the Dow Jones Industrials Index ( $DOWI ) ( DIA ) is up $0.69%, and the Nasdaq 100 Index ( $IUXX ) ( QQQ ) is up +0.37%. U.S. stock index futures this morning are...

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