Profound Unpredictability of Interest Rates | Connect New
In June, the Bank of England increased interest rates for the 13th consecutive time to bring inflation back to its target rate of 2%. Currently, the base rate of interest is set at 5%. Meanwhile, UK inflation has declined from its peak of 11.1% in 2022 to 8.7% in the period up to May 2023. […]
The Challenges Homeowners Face | Extraordinary Rate Rises
Shortly after we released the “Secure A Remortgage – During Unprecedented Times” post, data from Moneyfacts revealed that the average 2-year fixed rate in the UK climbed to 6.66% on Tuesday. This exceeded the previous rate of 6.63% and marked the highest level in 15 years, surpassing figures seen during the global financial crisis. With […]