The Latest Breaking News from Interest Rates

The Money Saving Expert reveals what he thinks banks need to do to ease pressure on homeowners as more mortgage deals are pulled

Martin also says that he could not see a Government mortgage rescue package being brought in, as rates continue to rise

The money saving expert warned of a "nightmare" and said people are going to have to "readjust" their finances

He explained what action you need to take as soon as you can

Mr Lewis said he had given his views at a mortgage summit held by Chancellor Jeremy Hunt last year.

Housing secretary suggests Canadian-type deals – as Sunak government under pressure to end ‘mortgage horror show’

The Reserve Bank's decision to raise interest rates to a fresh decade high in June was "finely balanced", minutes reveal.

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The SNP have said Westminster is “hammering home owners and first time buyers” after the Bank of England raised interest rates.

Calls for intervention were made as the average two-year fixed-rate mortgage deal topped 6% for the first time this year.

The Resolution Foundation predicts that the Bank of England's base interest rate could peak at nearly 6% by next year - currently, the base interest rate is 4.5%