✓ Independently verified by 3 news sources
US 30-year Treasury yield hits highest since 2002
Government debt extends decline as inflation and surging oil prices weigh on market Rolling coverage of the latest economic and financial news Newsflash: the number of mortgages approved by UK lenders has fallen to its lowest level since the end of 2023.Just 54,918 new home loans were approved in August on a seasonally-adjusted basis, new Bank of England data shows, as rising borrowing costs deterred potential home buyers.
The average 2-year fixed residential mortgage rate today is 5.93%. This is up from 5.91% the previous working day.
The average 5-year fixed residential mortgage Yields on the US Treasury’s longest-dated bond rose for a sixth straight day, crossing another key threshold amid a deepening selloff across global debt markets.
⚡ Effects Interpreter
🌍World Economy
- ▶Changes at the top may reshape trade deals and diplomatic ties.
- ▶International partners may recalibrate after moves like this.
🏙️Local Economy
- ▶The pinch, if any, tends to show up first at the till.
- ▶High street footfall and spending can shift subtly after a story like this.
🏦Rates & Banks
- ▶Rate-setters tend to wait for calm before acting.
- ▶Mortgage lenders might pause new offers until the political dust settles.
❤️Health
- ▶Stress levels in affected communities might tick up before they settle.
- ▶Looking after mental health is worth it when headlines feel heavy.
💷Wealth
- ▶Portfolios built for the long haul rarely need a rethink over one headline.
- ▶Your pension or investments might sway a touch as markets digest this.
🏠Housing
- ▶Property values usually need more than one headline to really move.
- ▶Landlords and tenants alike rarely feel sudden shifts from this kind of news.