Channel 4 News
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How interest rate hike will affect mortgages
Posted
May 11, 2023
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YouTube Description
as posted by the channelInterest rates are going up again - to 4.5% - the highest level they have been for 15 years.
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The Bank of England today said it was more optimistic about economic growth - it now believes there will be no recession this year.
But it also thinks inflation is going to stay higher for longer.
Rising rates mean that over a million people are about to see their mortgage payments shoot up as their fixed rate deals end this year.
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