Quote Originally Posted by North Cardiff Blue View Post
Ouch, it's going to get tough for youngsters and people stretched while buying their house, hopefully, that's the last and inflation starts to come down.

£250,000 borrowing on a variable/tracker rate will cost them approx £52pm more.

People coming out of a fixed deal from 2021, 2 years on the same size mortgage will see an average increase of approx £728pm for a new fixed deal.

The US went up the same yesterday.
Rate rises are meant to curb inflation, but why bother as this does not impact the man on the street. We either pay more via inflation or we pay more via increased debt payments.

its just a way of government debt being eroded in real terms.