UK Homeowners Face Soaring Mortgage Costs Amid Global Bond Selloff

UK homeowners like Richard Merrett are bracing for a significant increase in their monthly housing costs as ultra-cheap mortgage deals expire. Merrett, who currently pays £550 ($728) a month on a 1.14% fixed rate, anticipates his costs could treble to £1,650 when his deal ends in early 2027, reflecting the impact of deepening global bond selloffs on interest rates.