Mortgage Rates Face Uncertainty Amid Iran Conflict, Halifax Warns
UK house price growth slowed in February, but 'geopolitical uncertainties' from the US-Israel war on Iran could slow the fall in mortgage rates, according to Halifax.
Mortgage rates in the UK may not fall as quickly as expected this year due to geopolitical uncertainties surrounding the conflict between the US, Israel, and Iran, warns Halifax, the UK's largest mortgage lender.
Halifax, which is part of Lloyds, reported that UK house price growth slowed dramatically in February, with the value of a typical home rising by just 0.3% to £301,151. However, the lender cautioned that the ongoing tensions in the Middle East are likely to affect global economies, stoke inflation, and reduce the expected rate of interest rate cuts that influence borrowing costs for homebuyers.
Source: The Guardian
