UK lenders halt mortgage deals to customers after market chaos

UK lenders halt mortgage deals to customers after market chaos

• The British bond and currency markets have been in turmoil since Finance Minister Kwasi Kwarteng announced his “mini-budget” on Friday.
• The yield on the U.K. 10-year gilt soared to levels not seen since 2008 on Monday, while the British pound plummeted to an all-time low against the dollar.
• Markets have begun pricing in a base rate rise to as high as 6% for next year, from 2.25% currently, raising concerns among mortgage lenders and borrowers.

UK lenders halt mortgage deals to customers after market chaos (cnbc.com)