Long-term borrowing costs surge
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mortgage affordabilityTelegraph
•Borrowing costs surge to highest level since 1998 - latest updates
73% Informative
The yield on 30-year UK bonds - known as gilts - has risen to 5.22pc today for the first time in more than a quarter of a century .
Bank of England is only expected to cut rates twice this year in response to inflation.
This has put pressure on mortgage rates, which have risen to an average of 5.47pc for a two-year fixed deal.
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