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Spotlight 1: The Impact of Rising Interest Rates on Housing Costs

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  • Max Mosley
  • Rosen Chowdhury

Abstract

How have fast-rising interest rates affected housing costs across the United Kingdom? What has been the effect on housing costs arising from uncertainty not only about the path of monetary policy but also lending conditions and mortgage providers withdrawing a range of mortgage products? With interest rates forecast to rise to 5.5 per cent, we explore what the short– and long-term implications are for mortgage holders, and whether we can observe any pass-through impact on renters.

Suggested Citation

  • Max Mosley & Rosen Chowdhury, 2023. "Spotlight 1: The Impact of Rising Interest Rates on Housing Costs," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 11, pages 53-59.
    • Handle: RePEc:nsr:niesra:i:11:y:2023:p:53-59
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