【CNBC】Mortgage mayhem sparks fears of a housing market crash in Britain
【CNBC】Mortgage mayhem sparks fears of a housing market crash in Britain
2022.10.11
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- There are growing fears of a housing market crash in the U.K., after a swathe of tax cuts announced by the government sent interest rate expectations soaring, driving up lending rates for homebuyers.
- A number of banks suspended mortgage deals for new customers, and many have now returned to the market with significantly higher rates.
- Oxford Economics estimates that if interest rates remain at the levels currently being offered, house prices are approximately “30% overvalued based on the affordability of mortgage payments.”
