A total of 40 per cent struggle with their rent or mortgages payments. Expectations for an interest rate cut have been pushed back to later this yearTwo out of five people are struggling to keep the roof over their heads, new official data suggests.
The Monetary Policy Committee kept base rate at the 15-year high at its latest meeting, as had been widely expected by markets With some mortgage lenders increasing rates recently, there may be more hardship ahead for those homeowners coming to the end of their fixed rate deals. 'While inflation is moving in the right direction and some people have enjoyed wage increases, generally people feel poorer and have less disposable income.
However, financial markets are predicting interest rate cuts later this year, with the first expected to come in the summer.