The Bank of England’s latest ‘Trumpflation’ stress tests suggest UK households could face an annual mortgage bill increase of up to £3,380 if Middle East tensions keep oil above $120 a barrel and inflation peaks at 6.2%. The projection assumes base rates rising from 3.75% to 5.25%, pushing average mortgage rates to 6.75%. Even in the most likely scenario, households could see yearly costs climb by £1,050 to £1,950.
The Bank of England’s latest ‘Trumpflation’ stress tests suggest UK households could face an annual mortgage bill increase of up to £3,380 if Middle East tensions keep oil above $120 a barrel and inflation peaks at 6.2%. The projection assumes base rates rising from 3.75% to 5.25%, pushing average mortgage rates to 6.75%. Even in the most likely scenario, households could see yearly costs climb by £1,050 to £1,950.
The Bank of England’s latest ‘Trumpflation’ stress tests suggest UK households could face an annual mortgage bill increase of up to £3,380 if Middle East tensions keep oil above $120 a barrel and inflation peaks at 6.2%. The projection assumes base rates rising from 3.75% to 5.25%, pushing average mortgage rates to 6.75%. Even in the most likely scenario, households could see yearly costs climb by £1,050 to £1,950.
