The Office for Budget Responsibility (OBR) has forecast that the average mortgage interest rate will rise from 4% in 2026 to around 5% by 2031, as borrowers refinance onto higher rates. Meanwhile, mortgage repayments are expected to reach 4.25% of household disposable income by 2031,…
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Mortgage payments as proportion of disposable income to hit highest level since 2009 – OBR