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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.

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

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, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence