Independent Mortgages Direct NE

Interest Rate & House On Teeter Totter

BoE Increase Base Rate By 0.50% To 5.00%

The Bank of England (BoE) has today raised interest rates for the 13th consecutive time by a further 0.50% taking the Base Rate from 4.50% to 5.00% pushing the rate to it’s highest level since 2008 in a further attempt to reduce stubborn headline inflation.

lenders have already reacted to volatile Swap Rates this week by withdrawing and re-launching higher mortgage products in anticipation of the Bank of England (BoE) increase.