UK mortgage holders face rate increase amid bond sell-off

UK mortgage borrowers are facing potential rate increases as the five-year swaps rate surpassed 4.52%, a three-year high, amid global bond market sell-offs driven by fear of inflation from rising oil prices. The rise in bond yields is expected to lead to higher fixed-term mortgage rates, although rates remained unchanged on Thursday. The increase reflects concerns over inflation and government debt costs, which could impact borrowing costs and economic stability.

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