Rates have gone up again, for the 14th time in a row. The Bank Of England has put up its main rate from 5 to 5. 25 . That will mean higher mortgages for some people, but its also good news for savers. The Bank Of England is using Interest Rate rises to fight inflation, which has slowed recently, but which is still nearly 8 . Our economics correspondent andy verity reports the father of two, peter, keeping up the payments for his familys mortgages looking like anything but childs play. They bought their home under the governments help to buy scheme, but since then Interest Rates have risen 1a times. When his fixed rate deal expires early next year, the payments willjump. Somehow we are supposed to spend less and find an extra £750 per month to pay for that. For many families it is a terrifying situation, but if you have a young family like ourselves, who have been swayed into the Housing Market by government who has advertised help to buy as an affordable scheme, right, when things bec
Responsibility for the fact that inflation in the uk is much higher than it is in comparable countries. In the us, it is 3 . In the eurozone it is 5. 3 . And yet, here in britain, inflation remains stubbornly at 7. 9 because of a decade or more of mismanagement by the conservative party. Lets talk to our work and money reporter peter ruddick. What does this mean for people with mortgages . It what does this mean for people with mortua. Es . , what does this mean for people with mortua. Es . , , what does this mean for people with mortauaes . ,. Mortgages . It was widely expected but unfortunately mortgages . It was widely expected but unfortunately that mortgages . It was widely expected but unfortunately that will mortgages . It was widely expected but unfortunately that will not but unfortunately that will not prevent the pain from hurting. Lets break this down, for people on a variable or a tracker rate mortgage, which tracks the Bank Of England base rate, they will see immediate im
The weekend closure is having on businesses, and we are less than 24 hours away from bay to breakers, making a return to San Francisco. Look at the last minute preparations underway before thousands of runners hit the city streets. And we are going to get to those stories in just a moment. But first, were following breaking news. This is on Yerba Buena Island. Crews are battling a fire there. You see the video right there. It started just after 3 00. Firefighters say crews are facing heavy smoke and steep terrain. Now. Two fire boats are also helping put water on the flames from the bay. There they go. This is new video from the firefighting efforts. Its not clear how this fire started as you can imagine, this is impacting traffic on the bay bridge for a period of time. All eastbound lanes. They were shut down in the last 30 minutes. Two lanes. They reopened. Now heres a live look at our traffic map. And you can see that big backup right there stretching for miles. At this point, its a
Thank you so much for starting your weekend with us. Im kira klapper Cinthia Pimentel has a quick look at our microclimate forecast. Certainly windy earlier this morning. Are we going to have to and a bit chilly too. It was just a struggle to get out of bed, but good for those people that are taking advantage of the path. This morning were starting with that may gray again down here through the south bay, san jose. Were seeing it up into San Francisco as well, and in through the north bay. Also a foggy and cloudy start for our day up there in san rafael. Were starting off in the temperatures this morning. If youre finding yourself along the coast. Also, maybe some drizzle by the time that we get into the lunchtime hour, some spots will are struggling to warm up. But then as we get on into the afternoon, our inland valleys in the 70s once again breezy. Were in that pattern and up until the coastline i can see the models staying with that cloud cover hugging the coast. So ill walk you th