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Mortgages

Rising mortgage rates in UK could affect 7.5M households

LONDON Around 7.5 million households in Britain are projected to see their repayments rise by 2026, with annual mortgage repayments projected to increase by £15.8 billion ($20.2 billion) by 2026 due to rising interest rates, a recent study conducted by the Resolution Foundation revealed. The research said it is now anticipated that interest rates will reach their peak in mid-2024, nearing 6%, indicating the likelihood of five additional quarter-point rate increases."Market expectations that interest rates are going to rise even higher, and stay higher for longer, are having a major effect on...