• Risks of UK housing crash rising by the day as fixed-rate mortgage deals end

    Risks of UK housing crash rising by the day as fixed-rate mortgage deals end
    The tipping point for the economy could come if fixed-rate mortgages rise above 7%All things considered, Britain’s housing market has held up pretty well so far in the face of a relentless rise in borrowing costs that has seen five-year fixed rate mortgages climb above 6%. House prices, according to the Nationwide Building Society, are down just 3.5% on a year ago and rose slightly in June. The Bank of England reported a small rise in mortgage approvals in May.The key words, though, are &l

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