Why the Impact of Higher Interest Rates on the UK Housing Market Matters

One of the most common news stories to be found these days is the impact of higher interest rates on the housing market. It matters, especially now that we are days away from the next meeting of the Bank of England’s Monetary Policy Committee and another possible hike to the standard base interest rate. If the rate is indeed increased, it will be the eleventh consecutive meeting of the MPC to result in an increase to the base rate. It will raise the base rate above the current 4.0% and reach a level not seen by a large number of hopeful homebuyers and it will cause financial strain to many homeowners.