UK debt market sell-off threatens mortgage pain for households

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The story "UK debt market sell-off threatens mortgage pain for households" was covered 17 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 17h ago

UK debt market sell-off threatens mortgage pain for households - Financial Times

Quick Summary:

The need to absorb higher costs has led many homeowners to put off moving house, with fewer people able to trade up to a more expensive home.

Mortgage rates had been projected to fall this year, easing the pain for homeowners.

Lucian Cook, head of residential research at Savills, said the “pressure on household finances” from rising mortgage costs “has the impact of continuing to suck money out of the economy”.