What’s happening with the UK economy?
This Is Why
00:00
Fixed Rate Mortgages Are Getting More Expensive
A lot of the goods and services that are bought in this country are denominated in US dollars. So they automatically become more expensive when the pound falls against the dollar. It pushes up import costs, it pushes up imported inflation, and there are longer term inflationary feed throughs because a lot of commodities are priced in dollars as well. Some 935 mortgage products have been withdrawn over the last few days.
Play episode from 02:14
Transcript
