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UK banks resist mortgage rate hikes amid money market turmoil


Published on 2025-01-15 05:00:48 - Reuters
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  • Britain's banks are accepting smaller profit margins and bigger risks on UK mortgage lending as stress in sterling money markets stretches into a second week, industry sources said, with appetite to lend greater than worries about higher funding costs.

The article from Reuters, published on January 15, 2025, discusses how UK banks are resisting the pressure to increase mortgage rates despite the ongoing turmoil in money markets. This resistance comes in the wake of economic instability, where money market rates have been fluctuating due to various global financial pressures. Banks are choosing to absorb some of these costs rather than pass them onto homeowners, aiming to maintain customer loyalty and support the housing market. This strategy is influenced by the anticipation of potential economic recovery and the banks' assessments of long-term profitability over short-term gains. However, this approach might not be sustainable if market conditions worsen, potentially leading to future rate adjustments.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/uk-banks-resist-mortgage-rate-hikes-amid-money-market-turmoil-2025-01-15/ ]
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