Pantheon Macroeconomics

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20th Sep 2022 13:51U.K., Daily Monitor

  • The effective interest rate for all mortgages has risen only slowly to date, but now looks set to soar...
  • ...As a rising number of borrowers refinance, and as lenders respond to the further jump in risk-free rates.
  • Expect a 1pp disposable income hit in 2023 if Bank Rate tops 4%, or a 0.7pp drag if Bank Rate tracks our forecast.

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cpi disposable income house prices interest rate July labour labour market loans ltv mortgage mortgage debt mortgage lending mortgage rates mortgages mpc q2 real wages refinancing unemployment wages

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Keywords for: 21 Sept 2022 UK Monitor

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