means the bank has at this stage opted not to raise them any further. this raises lots of questions, does the bank of england think we have hit peak inflation and therefore as a result, we have hit peak interest rates? how long will it take for the rest of the economy to fair and how long will it take for that to filter through until we start to feel a bit better off? as we know, rising interest rates mean it is more expensive on your mortgage and any borrowing. saving rates have been rising but the bank of england has been raising them pretty sharply, iii times from their record low. that was after the financial crisis. up to 5.5 5.25% of the was after the financial crisis. up to 5.5 5.25% of the opting today to 5.5 5.25% of the opting today to keep them on hold. some relief for mortgage holders right now of the big question, whether this is as high as they will go or indeed the bank will decide later on that it needs to keep raising them to keep a lid on inflation?
you want the bbc to cover, and time and again, housing came up. peter felix, who lives locally, was one of the many who contacted us through your voice, your vote. he and his partner are both in their 40s. they would love to buy a home together, but can t get onto the housing ladder. the average price paid by a first time buyer in the uk last year was just over quarter of a million pounds. that s up from £109,000 20 years earlier. the average age of a first time buyer in the uk is now 33. at the same time, private rental costs have gone up more than 9% in just the last year. so tonight, we re here in the black country to the west of birmingham, where peter now lives with his partner rebecca. 0ur midlands correspondent navtej johal has been to meet them. there s nothing, there s no help. we just want a home. we just want to have our own home. that s what we d probably like. peter paints and decorates homes. do you want to hand, pete? please. but he and his partner rebecca are
New research carried out by the Office for National Statistics (ONS) has revealed that 40 percent of people are struggling to keep up with their rent or mortgage payments.