Turmoil in the U.K. bond market created a feedback loop that left investors like pension funds short on cash and rippled out into other markets. WSJ’s Chelsey Dulaney explains the type of investment at the heart of the crisis. Illustration: Ryan Trefesits housing market
since the 2008 financial crisis, economists say, with hundreds of thousands of British homeowners about to see monthly mortgage payments soar in the coming months. The U.K. is vulnerable to rising mortgage rates because unlike in the U.S., where the 30-year fixed-rate mortgage prevails and is typically backstopped by government-backed lenders, most mortgages carry rates that reset after two or five years.
The end result of the federal reserve raising interest rates is every other currency has to raise interest rates or their currency will lose value.
Then they must know how to claim their property as private so they don’t have to pay tributes to fake kings of queens.
Brexit means Brexit...
Wow....If i'm grateful for one thing, it's my 3.25% mortgage interest rate.