Thursday, October 20, 2022

Truss DOWN but Mortgage Rates UP to 14-Year High as 100,000 reach end of...

Truss DOWN but Mortgage Rates UP to 14-Year High as 100,000 borrowers reach end of fixed rate deal every month

·        Prime Minister Liz Truss resigns after 38 days in office following a tumultuous few weeks

·        A new party leader and Prime Minister will be voted in by members by 28 October

·        Will ‘the markets’ get the leader they want with higher taxes, pain and austerity?

·        As mortgage rates hit new high, 100,000 reach end of fixed rate deal every month

·        Average two and fiver-year fixed rate deals reach 6.65% and 6.51%

·        Bank of England will raise rates again next month to fight inflation

·        Food prices rise at fastest rate for 42 years

·        Tax plans and Hunt budget in doubt

·        Markets and Pound rise on news

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