UK mortgage rates hit a six-month high in March after the three consecutive rate hikes by the Bank of England, raising a threat to the buoyant housing market, official data revealed on Wednesday.
The 'effective' interest rate, which is the actual interest rate paid on newly drawn mortgages, increased by 14 basis points to 1.73 percent in March, the BoE said. This was the highest since last September.
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by Renju Jaya
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