Several lenders have been forced to withdraw their mortgage products over the last 24 hours in the face of ongoing Swap rate volatility and the adjustment funding markets are making in anticipation of further increases by the Bank of England (BoE). The changed expectation follows the release of data from the Office for National Statistics (ONS) which showed inflation falling to 8.7% when economists had anticipated a lower figure of 8.2%. That coupled with a 30 year high in core inflation saw interest rate expectations soar to 5.5%.
