Mortgages

• The U.S. economy faces 'real risk' of recession following four weeks of war in Iran, with major indexes like S&P 500, Dow, and Nasdaq down sharply and energy stocks up 25%. • Inflation pressures have driven 30-year fixed mortgage rates to 6.5%, up 0.5 points, while businesses cannot expect Federal Reserve rate cuts soon. • Stock portfolios and retirement accounts have suffered ugly losses, compounded by higher gas prices and persistent high interest rates.

Nearly 700 deals pulled in two weeks and only a few fixed-rate products below 4% are available, says MoneyfactsBusiness live – latest updatesBritons taking out a new home loan face paying nearly £800 a year more on average than before the Iran war as “Trumpflation” pushes up UK mortgage rates, according to Moneyfacts.Nearly 700 mortgage deals have been pulled by lenders as the economic fallout from the war results in the biggest upheaval since the aftermath of Liz Truss’s disastrous mini-budget in 2022. Continue reading...