【CNBC】Brits are facing a major mortgage crisis as lending rates soar

• The average two-year fixed rate mortgage on a residential property in Britain rose from 5.98% Friday to 6.01%, its highest level since Dec 1.
• “We are now in the unenviable position of staring over the abyss where the bodies of the over-leveraged, under-saved, landlords, renters and owners of discretionary spend businesses are beginning to pile up,” said Martin Stewart, director of mortgage advisory London Money.
• Short-term U.K. bond yields are at a 15-year high and markets are pricing in peak interest rates of close to 6%.

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