Getty Images Mortgage costs are rising – with the average rate on a two-year fixed deal now at 5.5% – despite a recent cut in interest rates. A string of lenders, including Barclays, HSBC, NatWest and Nationwide, have increased the rates charged on new fixed deals in recent days. That has created a headache for borrowers hoping costs were on a consistent downward trend, especially in light of the Bank
Breadcrumb Trail Links Investor A top-rate GIC today pays 4.05% for one year locked in, 3.8% for two years locked in and 3.55% for three years locked in Published Nov 11, 2024 • Last updated 1 hour ago • 5 minute read You can save this article by registering for free here. Or sign-in if you have an account. Interest rates rates in the range of 3.55 per cent to 4.05
General view of the City of London skyline, the capital’s financial district, in October. Sopa Images | Lightrocket | Getty Images LONDON — The International Monetary Fund on Tuesday raised its 2024 growth outlook for the United Kingdom, saying declines in interest rates and inflation would boost domestic demand. The IMF now sees 1.1% growth for the U.K. economy this year, up from a July forecast of 0.7%. The agency
Extreme tariffs proposed by U.S. presidential candidate Donald Trump would interrupt the path of disinflation and could lead to higher interest rates, according to the head of the Institute of International Finance. “The assumption is you’ll have higher inflation, higher interest rates than you would have in the absence of those tariffs,” Tim Adams, president and CEO of the IIF financial services industry trade group, told CNBC’s Karen Tso on
Mortgage rates Just under a third of households have a mortgage, according to the government’s English Housing Survey, external. About 600,000 homeowners have a mortgage that “tracks” the Bank of England’s rate, so a base rate cut immediately leads to lower monthly repayments. But more than eight in 10 mortgage customers have fixed-rate deals. While their monthly payments aren’t immediately affected, future deals are. Mortgage rates are still much higher
Breadcrumb Trail Links Investor Martin Pelletier: Given the widening gap between our economy and America’s, we are not optimistic about our currency Published Oct 28, 2024 • Last updated Oct 28, 2024 • 3 minute read You can save this article by registering for free here. Or sign-in if you have an account. The debasement of our currency should be of serious concern, writes Martin Pelletier. Photo by Peter J
Getty Images UK interest rates could take longer to fall further after the Bank of England forecast that inflation will creep higher after last week’s Budget. The Bank cut interest rates to 4.75% from 5% in a move that had been widely expected. But it indicated that while the extra spending outlined in the Budget would initially boost growth, measures such as raising the cap on bus fares and VAT
