Former Bank of England governor Mark Carney, who ran the Bank from 2013 to 2020, warned big tectonic shifts in the global economy will result in higher longer-term interest rates for a period .
Mortgage holders in Britain are facing ever-higher repayment costs amid concerns the Bank of England will raise interest rates again on June 22 to help keep inflation under control.
The average two-year fixed rate has more than doubled from 2.59 per cent in June 2021 to 5.90 per cent today, according to data from financial experts at Moneyfacts.
Darryl Dhoffer, Mortgage Expert at The Mortgage Expert, said: "Watching mortgage rates during the past three weeks has been like watching a bucket of ice in
The average two-year fixed rate has more than doubled from 2.59 per cent in June 2021 to 5.90 per cent today, according to data from financial experts at Moneyfacts.