High interest rates can affect people in different ways. Mortgage holders with variable or tracker mortgages, or those who are looking to secure new fixed-rate deals, have higher monthly payments. First-time home buyers may find they are priced out of the market as lending conditions become tighter.
Charges tend to be higher for some loans and credit cards that don’t have fixed interest charges, but people with savings should benefit from higher interest rates and get better returns on their money. Higher rates could also be good news for those on the cusp of retirement, who might get a better annuity rate.
This determines how much guaranteed income you get, when you swap some or all of your pension pot for a secure income. That’s because providers typically buy government bonds, which will rise in line with higher interest rates. For the government though, rises in interest rates in recent times means it has to pay more interest on the country’s debt.
In other news – Chrisean Rock tattoos boyfriend Blueface’s portrait on her face
Chrisean Rock‘s clearly committed to working things out with her on-again, off-again beau Blueface … and she’s expressing that commitment in a very artistic way.
The 23-year-old mother of Blueface’s child got what appears to be a tattoo of her currently imprisoned man … sharing a video of the process to Instagram Sunday morning. Read more