How the Iran War Has Affected Mortgage Rates and the UK Mortgage Industry
The conflict involving Iran has had a noticeable knock-on effect on the UK mortgage market, creating fresh uncertainty for borrowers, lenders and homebuyers alike.
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.