Mortgage rates are spiking - how bad will it get?

About this episode

The episode discusses the recent spike in mortgage rates due to inflation and interest rate concerns, along with tips for home buyers and pension mistakes to avoid.

Mortgage rates have shot up this week as the impact of the conflict with Iran for inflation and interest rates sinks in. Banks and building societies have been racing to raise their fixed rates - with some even pushing them up twice in the space of a few days. It comes in response to a sudden switch around in expectations for the Bank of England base rate, but will this flurry of hikes continue or are the concerns overdone. On this episode of the This is Money Podcast, Georgie Frost, Helen Crane and Simon Lambert look at what's going on in the mortgage market - and what you can do about it if you are buying a home or need to remortgage. Plus, Simon has broken with the habit of a lifetime and actually fixed his energy bills for once. He explains why you should too - and how there are still potentially price cap-beating or matching deals out there. Helen outlines the nine biggest mistakes you can make with your pension - and what they could cost you. And finally, if you have a Nationwide current account and are hopefully in line for some free money from Fairer Share, this is what you must do in the next two weeks. Follow us on Instagram @dmgnewmedia. Follow us on TikTok…

People in this episode

Hosts: Georgie Frost, Simon Lambert, Helen Crane

Topics covered

• mortgage rates
• interest rates
• pension mistakes
• energy bills
• home buying
• remortgaging

Keywords

• mortgage rates
• interest rates
• Bank of England
• pension mistakes
• energy bills
• Nationwide

Mentioned in this episode

Organizations: Bank of England, Nationwide

Places: Iran

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