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27th Jun 2022 18:00U.K., Daily Monitor

Mortgage rates have surged in recent months, but still have a lot further to rise over the summer.

Monthly mortgage payments for the average borrower will be £300 higher in July than at the end of 2021.

Prices will be supported by the solid labour market and savings, but the hit from higher rates will dominate.

house prices interest rates January July labour labour market ltv mortgage mortgage payments mortgage rates mortgages mpc ois ois rates rents wages

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