What Rising Unemployment, Interest Rates and Inflation Mean for Homeowners and Mortgage Borrowers
New figures released by the UK’s Office for National Statistics (ONS) show that the economy is facing a mixed and uncertain outlook. Unemployment has increased slightly, wage growth is slowing, and concerns around inflation remain high due to ongoing global tensions and rising energy prices.
What Recent Market Movements Could Mean for Mortgage Rates
UK government bond markets experienced renewed pressure this week after reports of fresh attacks on commercial ships near the Strait of Hormuz unsettled global financial markets. The uncertainty pushed 10-year gilt yields up to 4.65%, compared with 4.49% .
UK Economy Update: GDP Slows and Rate Cut Expectations Grow
UK 10-year government bond yields have fallen below 4.5%, currently sitting at 4.481% — their lowest level since 22 January. The move comes as investors react to a mix of weaker UK economic data, strong US jobs figures, and growing expectations of Bank of England interest rate cuts.