0:00
We say there's only a handful of sub-4%
0:02
left on the market right now. There's a
0:03
handful of lenders left. It's very
0:05
likely those will go in the next few
0:07
days. So, that cheaper end of borrowing,
0:08
the floor is lifting. So, we're seeing
0:10
rates increasing at the top end, but
0:12
also at the bottom end as well. Rates
0:14
across the board are going up,
0:15
unfortunately. And that story will
0:16
continue to play out as long as we see
0:18
this conflict drag on. This week,
0:20
however, we do have the Bank of England
0:22
meeting to discuss what they're doing
0:24
with base rate. And I think a lot will
0:25
hinge on the substance of that
0:27
conversation. So, it's extremely likely
0:29
base rate will be held. Go back a few
0:31
weeks, it was priced 80% chance of a
0:32
cut. It's now probably a 10% chance of a
0:35
cut, if that. Fairly unanimous, it's not
0:37
moving. But, the substance of the
0:38
conversation they have will show exactly
0:40
what they where they expect the path of
0:41
inflation to go. How are they going to
0:43
balance the risk of inflation versus the
0:45
risks of a real GDP contraction
0:47
potentially off the back of this, as
0:48
well. So, how are they going to balance
0:50
all of that? Will be a big indicator to
0:51
the markets of where rates could go for
0:53
the rest of this year. And that will
0:54
obviously have an impact on mortgage
