RE: Nationwide...19 May 2022 17:10
The housing market has been fuelled by virtually free money since the GFC, and also various schemes that have been on offer - Help to Buy etc.
If mortgage holders had to start paying 5 or 6% on their mortgages next week, the very long period of property overvaluation, would start to reverse.
It is a question of wait and see to find out how high base rates and mortgage rates will go from here - already gone up a lot from the low.