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7th Jun 2023 15:27U.K., Daily Monitor

  • The effective interest rate for new mortgages looks set to rise to about 5.35% in August, from 4.41% in April...
  • ...This suggests that mortgage refinancing will deliver around a 1.0pp blow to disposable incomes this year.
  • Households, however, also will benefit from rising deposit rates and lower energy prices soon; a recession isn't likely.

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Keywords for: 8 June 2023 UK Monitor

deposit rates, energy, energy prices, interest rate, June, mortgage, mortgages, new mortgages, recession, refinancing, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence