CMC Markets experts predict interest rates will rise again to 2.25% in September, which coupled with still-soaring inflation would be bad news for buyers, landlords and renters.
“Most buyers are weathering the storm for a few more months at least, while some are also working out how the cost of living crisis will pan out in the medium term.” “Importantly, since this is transactions data processed at the time , it does not take into account the big leap in interest rates that the Bank of England announced later that month, let alone the even bigger hike in August.”For those keen to get on the property ladder, there are plenty of fixed-rate banking products that can insulate them from spiralling interest rates on mortgages.
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