The Latest Breaking News from Interest Rates

The day before new UK chancellor Kwasi Kwarteng’s mini-budget plan for economic growth, a pound would buy you about $1.13. After financial markets rejected the plan, the pound suddenly sunk to around $1.07. Though it has since rallied thanks to major intervention from the Bank of England, the currency remains…

Bank of England independence was no one’s first choice. Margaret Thatcher never did it, John Major preferred to devolve power to the German Bundesbank than grant it to Threadneedle Street. Because the power to set interest rates is an awesome one.

The Conservative party is heading into its annual conference amid the catastrophic fallout from Chancellor Kwasi Kwarteng’s mini-budget. The decision to cut tax without a plan to pay for it caused a sharp fall in the value of the pound on currency markets, which reached an all-time low against the…

Shares of online real estate services company Opendoor Technologies (OPEN) have plummeted more than 75% in price year-to-date with the cooling down of the housing market amid rising interest rates. Furthermore, the company is expected to incur huge losses in the upcoming years. Hence, with the Fed signaling aggressive rate…

We are rapidly starting to see what a “mortgage bombshell” might look like. Thousands of Londoners have been warned they could pay more than £10,000 a year extra if interest rates rise to six per cent.

The UK remains a nation of homeowners, with two-thirds of all dwellings belonging to the people who live in them. But as interest rates swiftly rise, there are fears that many of those households will soon find their mortgage payments unaffordable.

There has been a sharp rise in mortgage costs as interest rates soar

Warning as Prime Minister and Kwasi Kwarteng held OBR talks

Estate agents said that there could be some renegotiations amid a backdrop of rising interest rates, which could lead to house prices softening

Borrowing costs at their highest level in 14 years

Lenders have been withdrawing mortgage products amid fears of rising interest rates in the wake of the Government's disastrous mini-Budget