Mortgage rates surged at an unprecedented pace in 2022, with the average 10-year fixed rate doubling between March and December of that year. In response to mounting inflation, the Bank of England implemented a series of rate hikes, pushing borrowing costs steadily higher. By August 2025, the average 10-year fixed mortgage rate had climbed to 4.49 percent. As financing becomes more expensive, housing demand has cooled, weighing on market sentiment and slowing house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold fell significantly in 2023, dipping to just above *** million transactions. This contraction in activity also dampened mortgage lending. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans declined year-on-year for five consecutive quarters. Even as rates eased modestly in 2024 and housing activity picked up slightly, volumes remained well below the highs recorded in 2021. How are higher mortgages impacting homebuyers? For homeowners, the impact is being felt most acutely as fixed-rate deals expire. Mortgage terms in the UK typically range from two to ten years, and many borrowers who locked in historically low rates are now facing significantly higher repayments when refinancing. By the end of 2026, an estimated five million homeowners will see their mortgage deals expire. Roughly two million of these loans are projected to experience a monthly payment increase of up to *** British pounds by 2026, putting additional pressure on household budgets and constraining affordability across the market.

House price index is based on average new house price value at loan approval stage and therefore has not been adjusted for changes in the mix of houses and apartments sold. Interest rates is based on building societies mortgage loans, published by Central Statistics Office up to 2007.
From 2008 interest rates is average rate of all 'mortgage lenders' reporting to the Central Bank.
From 2014 it is based on the floating rate for new customers as published by the Central Bank (Retail interest rates - Table B2.1). The reason for the drop between 2013 and 2014 is due to the difference in methodology - the 2014 data is the weighted average rate on new loan agreements. Further information can be found here:
http://www.centralbank.ie/polstats/stats/cmab/Documents/Retail_Interest_Rate_Statistics_Explanatory_Notes.pdf
Earnings is based on the average weekly earnings of adult workers in manufacturing industries, published by the Central Statistics Office. This series has been updated since 1996 using a new methodology and therefore it is not directly comparable with those for earlier years. House Construction Cost Index is based on the 1st day of the third month of each quarter.
Consumer Price index is based on the Consumer Price Index, published by the Central Statistics Office.
The most current data is published on these sheets. Previously published data may be subject to revision. Any change from the originally published data will be highlighted by a comment on the cell in question. These comments will be maintained for at least a year after the date of the value change.

The benchmark interest rate in Mexico was last recorded at 7.50 percent. This dataset provides - Mexico Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...).

Bank Lending Rate in Germany decreased to 3.94 percent in July from 4 percent in June of 2025. This dataset provides the latest reported value for - Germany Bank Lending Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The benchmark interest rate in Canada was last recorded at 2.50 percent. This dataset provides - Canada Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Abstract copyright UK Data Service and data collection copyright owner.The Family Resources Survey (FRS) has been running continuously since 1992 to meet the information needs of the Department for Work and Pensions (DWP). It is almost wholly funded by DWP. The FRS collects information from a large, and representative sample of private households in the United Kingdom (prior to 2002, it covered Great Britain only). The interview year runs from April to March.The focus of the survey is on income, and how much comes from the many possible sources (such as employee earnings, self-employed earnings or profits from businesses, and dividends; individual pensions; state benefits, including Universal Credit and the State Pension; and other sources such as savings and investments). Specific items of expenditure, such as rent or mortgage, Council Tax and water bills, are also covered.Many other topics are covered and the dataset has a very wide range of personal characteristics, at the adult or child, family and then household levels. These include education, caring, childcare and disability. The dataset also captures material deprivation, household food security and (new for 2021/22) household food bank usage. The FRS is a national statistic whose results are published on the gov.uk website. It is also possible to create your own tables from FRS data, using DWP’s Stat Xplore tool. Further information can be found on the gov.uk Family Resources Survey webpage. Safe Room Access FRS data In addition to the standard End User Licence (EUL) version, Safe Room access datasets, containing unrounded data and additional variables, are also available for FRS from 2005/06 onwards - see SN 7196, where the extra contents are listed. The Safe Room version also includes secure access versions of the Households Below Average Income (HBAI) and Pensioners' Incomes (PI) datasets. The Safe Room access data are currently only available to UK HE/FE applicants and for access at the UK Data Archive's Safe Room at the University of Essex, Colchester. Prospective users of the Safe Room access version of the FRS/HBAI/PI will need to fulfil additional requirements beyond those associated with the EUL datasets. Full details of the application requirements are available from Guidance on applying for the Family Resources Survey: Secure Access.FRS, HBAI and PIThe FRS underpins the related Households Below Average Income (HBAI) dataset, which focuses on poverty in the UK, and the related Pensioners' Incomes (PI) dataset. The EUL versions of HBAI and PI are held under SNs 5828 and 8503 respectively. The secure access versions are held within the Safe Room FRS study under SN 7196 (see above). The FRS aims to: support the monitoring of the social security programme; support the costing and modelling of changes to national insurance contributions and social security benefits; provide better information for the forecasting of benefit expenditure. From April 2002, the FRS was extended to include Northern Ireland. Detailed information regarding anonymisation within the FRS can be found in the anonymised variables volume of the dataset documentation. For the second edition (October 2014) the data have been re-grossed following revision of the FRS grossing methodology to take account of the 2011 Census mid-year population estimates. New variable GROSS4 has been added to the dataset. Main Topics: Household characteristics (composition, tenure type); tenure and housing costs including Council Tax, mortgages, insurance, water and sewage rates; school milk and meals; educational grants and loans; children in education; informal care (given and received); childcare; occupation and employment; health restrictions on work; children's health; wage details; self-employed earnings; personal and occupational pension schemes; income and benefit receipt; income from pensions and trusts, royalties and allowances, maintenance and other sources; income tax payments and refunds; National Insurance contributions; earnings from odd jobs; children's earnings; interest and dividends; investments; National Savings products; assets. Standard Measures Standard Occupational Classification Multi-stage stratified random sample Face-to-face interview Computer Assisted Personal Interviewing 2007 2008 ABSENTEEISM ACADEMIC ACHIEVEMENT ADMINISTRATIVE AREAS AGE APARTMENTS APPLICATION FOR EMP... APPOINTMENT TO JOB ATTITUDES BANK ACCOUNTS BEDROOMS BONDS BUILDING SOCIETY AC... BUSES BUSINESS RECORDS CARE OF DEPENDANTS CARE OF THE DISABLED CARE OF THE ELDERLY CHARITABLE ORGANIZA... CHILD BENEFITS CHILD CARE CHILD DAY CARE CHILD MINDERS CHILD MINDING CHILD SUPPORT PAYMENTS CHILD WORKERS CHILDREN CHRONIC ILLNESS CIVIL PARTNERSHIPS COHABITATION COLOUR TELEVISION R... COMMERCIAL BUILDINGS COMMUTING CONCESSIONARY TELEV... CONSUMPTION COST OF LIVING COSTS COUNCIL TAX CREDIT UNIONS Consumption and con... DAY NURSERIES DEBILITATIVE ILLNESS DEBTS DISABILITIES DISABILITY DISCRIMI... DISABLED CHILDREN DISABLED PERSONS DOMESTIC RESPONSIBI... ECONOMIC ACTIVITY ECONOMIC VALUE EDUCATION EDUCATIONAL BACKGROUND EDUCATIONAL FEES EDUCATIONAL GRANTS EDUCATIONAL INSTITU... EDUCATIONAL VOUCHERS ELDERLY EMPLOYEES EMPLOYMENT EMPLOYMENT HISTORY EMPLOYMENT PROGRAMMES ENDOWMENT ASSURANCE ETHNIC GROUPS EXPENDITURE EXTRACURRICULAR ACT... FAMILIES FAMILY MEMBERS FINANCIAL DIFFICULTIES FINANCIAL INSTITUTIONS FINANCIAL RESOURCES FINANCIAL SUPPORT FOOD FREE SCHOOL MEALS FRIENDS FRINGE BENEFITS FULL TIME EMPLOYMENT FURNISHED ACCOMMODA... FURTHER EDUCATION Family life and mar... GENDER GIFTS GRANDPARENTS GRANTS HEADS OF HOUSEHOLD HEALTH HEALTH SERVICES HEARING IMPAIRED PE... HEARING IMPAIRMENTS HIGHER EDUCATION HOLIDAY LEAVE HOME BASED WORK HOME OWNERSHIP HOME SHARING HOURS OF WORK HOUSEHOLD BUDGETS HOUSEHOLD HEAD S OC... HOUSEHOLD INCOME HOUSEHOLDS HOUSING HOUSING FACILITIES HOUSING FINANCE HOUSING TENURE INCOME INCOME TAX INDUSTRIES INSURANCE INSURANCE PREMIUMS INTEREST FINANCE INVESTMENT INVESTMENT RETURN Income JOB DESCRIPTION JOB HUNTING JOB SEEKER S ALLOWANCE LANDLORDS LEAVE LOANS LODGERS LOW PAY MANAGERS MARITAL STATUS MARRIED WOMEN MARRIED WOMEN WORKERS MATERNITY LEAVE MATERNITY PAY MEDICAL PRESCRIPTIONS MORTGAGE PROTECTION... MORTGAGES MOTORCYCLES NEIGHBOURS Northern Ireland OCCUPATIONAL PENSIONS OCCUPATIONAL QUALIF... OCCUPATIONS ONE PARENT FAMILIES ONLINE BANKING OVERTIME PARENTS PART TIME COURSES PART TIME EMPLOYMENT PARTNERSHIPS BUSINESS PASSENGERS PATERNITY LEAVE PENSION CONTRIBUTIONS PENSIONS PHYSICALLY DISABLED... PHYSICIANS POVERTY PRIVATE EDUCATION PRIVATE PERSONAL PE... PRIVATE SCHOOLS PROFITS QUALIFICATIONS RATES REBATES REDUNDANCY REDUNDANCY PAY REMOTE BANKING RENTED ACCOMMODATION RENTS RESIDENTIAL MOBILITY RETIREMENT ROOM SHARING ROOMS ROYALTIES SAVINGS SAVINGS ACCOUNTS AN... SCHOLARSHIPS SCHOOL MILK PROVISION SCHOOLCHILDREN SCHOOLS SEASONAL EMPLOYMENT SECONDARY EDUCATION SECONDARY SCHOOLS SELF EMPLOYED SEWAGE DISPOSAL AND... SHARES SHIFT WORK SICK LEAVE SICK PAY SICK PERSONS SOCIAL CLASS SOCIAL HOUSING SOCIAL SECURITY SOCIAL SECURITY BEN... SOCIAL SECURITY CON... SOCIAL SERVICES SOCIAL SUPPORT SOCIO ECONOMIC INDI... SOCIO ECONOMIC STATUS SPECIAL EDUCATION SPOUSES STATE EDUCATION STATE HEALTH SERVICES STATE RETIREMENT PE... STUDENT HOUSING STUDENT LOANS STUDENTS STUDY SUBSIDIARY EMPLOYMENT SUPERVISORS SUPERVISORY STATUS Social stratificati... TAXATION TELEPHONES TELEVISION LICENCES TELEVISION RECEIVERS TEMPORARY EMPLOYMENT TENANCY AGREEMENTS TENANTS HOME PURCHA... TERMINATION OF SERVICE TIED HOUSING TIME TOP MANAGEMENT TRAINING UNEARNED INCOME UNEMPLOYED UNEMPLOYMENT BENEFITS UNFURNISHED ACCOMMO... UNWAGED WORKERS VISION IMPAIRMENTS VISUALLY IMPAIRED P... VOCATIONAL EDUCATIO... VOLUNTARY WORK WAGES WATER RATES WIDOWED WORKING MOTHERS WORKING WOMEN property and invest...

The benchmark interest rate in Czech Republic was last recorded at 3.50 percent. This dataset provides the latest reported value for - Czech Republic Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Lending Rate: RUB Mortgage Loans: YB: Quarterly: SF: Republic of Adygea data was reported at 6.460 % pa in Mar 2025. This records a decrease from the previous number of 8.450 % pa for Dec 2024. Lending Rate: RUB Mortgage Loans: YB: Quarterly: SF: Republic of Adygea data is updated quarterly, averaging 12.550 % pa from Sep 2006 (Median) to Mar 2025, with 75 observations. The data reached an all-time high of 15.000 % pa in Mar 2007 and a record low of 5.010 % pa in Dec 2022. Lending Rate: RUB Mortgage Loans: YB: Quarterly: SF: Republic of Adygea data remains active status in CEIC and is reported by Bank of Russia. The data is categorized under Russia Premium Database’s Interest and Foreign Exchange Rates – Table RU.MB010: Lending Rate: RUB Housing Loans: ow Mortgage: by Region: Average from Year Beginning.

Interest Rate on Outstanding Mortgages in the United Kingdom remained unchanged at 3.88 percent in July. This dataset includes a chart with historical data for the United Kingdom Interest Rate on Outstanding Mortgages.

The benchmark interest rate in Colombia was last recorded at 9.25 percent. This dataset provides the latest reported value for - Colombia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Lending Rate: Foreign Currencies Mortgage Loans: YB: Quarterly: NW: Arkhangelsk Region data was reported at 8.910 % pa in Dec 2014. This records a decrease from the previous number of 9.370 % pa for Sep 2014. Lending Rate: Foreign Currencies Mortgage Loans: YB: Quarterly: NW: Arkhangelsk Region data is updated quarterly, averaging 10.510 % pa from Sep 2006 (Median) to Dec 2014, with 29 observations. The data reached an all-time high of 12.000 % pa in Mar 2007 and a record low of 8.200 % pa in Dec 2013. Lending Rate: Foreign Currencies Mortgage Loans: YB: Quarterly: NW: Arkhangelsk Region data remains active status in CEIC and is reported by Bank of Russia. The data is categorized under Russia Premium Database’s Interest and Foreign Exchange Rates – Table RU.MB012: Lending Rate: Foreign Currencies Housing Loans: ow Mortgage: by Region: Average from Year Beginning.

Mortgage Rate in Australia remained unchanged at 5.76 percent in July. This dataset includes a chart with historical data for Australia Mortgage Rate.

Lending Rate: Foreign Currencies Mortgage Loans: YB: Quarterly: SB: Irkutsk Region data was reported at 7.200 % pa in Dec 2014. This stayed constant from the previous number of 7.200 % pa for Sep 2014. Lending Rate: Foreign Currencies Mortgage Loans: YB: Quarterly: SB: Irkutsk Region data is updated quarterly, averaging 9.630 % pa from Sep 2006 (Median) to Dec 2014, with 31 observations. The data reached an all-time high of 11.000 % pa in Jun 2007 and a record low of 6.630 % pa in Dec 2012. Lending Rate: Foreign Currencies Mortgage Loans: YB: Quarterly: SB: Irkutsk Region data remains active status in CEIC and is reported by Bank of Russia. The data is categorized under Russia Premium Database’s Interest and Foreign Exchange Rates – Table RU.MB012: Lending Rate: Foreign Currencies Housing Loans: ow Mortgage: by Region: Average from Year Beginning.

Lending Rate: Foreign Currencies Mortgage Loans: YB: Quarterly: FE: Kamchatka Territory data was reported at 8.210 % pa in Dec 2013. This stayed constant from the previous number of 8.210 % pa for Sep 2013. Lending Rate: Foreign Currencies Mortgage Loans: YB: Quarterly: FE: Kamchatka Territory data is updated quarterly, averaging 9.300 % pa from Sep 2006 (Median) to Dec 2013, with 24 observations. The data reached an all-time high of 13.000 % pa in Mar 2007 and a record low of 8.210 % pa in Dec 2013. Lending Rate: Foreign Currencies Mortgage Loans: YB: Quarterly: FE: Kamchatka Territory data remains active status in CEIC and is reported by Bank of Russia. The data is categorized under Russia Premium Database’s Interest and Foreign Exchange Rates – Table RU.MB012: Lending Rate: Foreign Currencies Housing Loans: ow Mortgage: by Region: Average from Year Beginning.

The benchmark interest rate in Hong Kong was last recorded at 4.50 percent. This dataset provides the latest reported value for - Hong Kong Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The benchmark interest rate in Belarus was last recorded at 9.75 percent. This dataset provides the latest reported value for - Belarus Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Interest rate on new mortgages in the United Kingdom decreased to 4.28 percent in July from 4.34 percent in June of 2025. This dataset includes a chart with historical data for the United Kingdom Interest Rate on New Mortgages.

Bank Lending Rate in Belgium decreased to 3.48 percent in July from 3.52 percent in June of 2025. This dataset provides - Belgium Bank Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in India was last recorded at 5.50 percent. This dataset provides - India Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.