Shafaqna English– A British homeowner faces a harsh reality. When his ultra-cheap mortgage deal ends in early 2027, his monthly payment will jump from £550 to £1,650 — a threefold increase. Energy price spikes caused by the Iran war have made things worse. What makes his case striking is that he runs a mortgage firm himself, yet even he is shocked.
His story is part of a bigger picture: a global bond selloff has pushed borrowing costs to decade highs from the US to Japan. Britain’s mortgage market is already feeling the pain, and the wider economy could be next. The euro zone and the US may face the same fate if rates stay stubbornly high.
Source: Reuters