LONDON (CU)_The United Kingdom’s Office for Budget Responsibility released its inflation predictions this week, alongside Wednesday’s budget, which suggested that the era of record low mortgage rates may be over. According to the government’s independent forecasters, costs of home loans will rise rapidly over the next two years. With the increases in the Bank of England base rate set to be passed on to borrowers, the cost of servicing a mortgage could rise by 5.6 per cent year and by 13.1 per cent in the following year.
Putting these forecasts into perspective financial firm AJ Bell noted that if…
