After years of cuts, mortgage rates now on the way up

There are expectations that the European Central Bank will increase its base rate by 0.25 percentage points from the end of the year as it tries to combat inflation. Photo: Stock image

Charlie Weston

The warning signs have been there for a while that mortgage lending rates were about to rise. Central banks around the world, including the European Central Bank, have been indicating that they will increase their key lending rates for banks.