Some banks and building societies that have raised mortgage rates in the last three weeks have, counterintuitively, also reduced savings rates. Read this and the rest of today's consumer and personal finance news below - and listen to a Daily podcast on inflation as you scroll.
By Jimmy Rice, Money blog editorMortgage rates have risen since the budget based on expectations further base rate cuts could be delayed – and while this is bad news for borrowers, higher rates should be great for savers.But Money can reveal some of the same banks and building societies that have raised mortgage rates in the last three weeks have, counterintuitively, also reduced savings rates.
'Anna Bowes said that while savings being linked to the base rate explained a drop in variable rate savings accounts – there's less explanation for fixed-rate bonds and ISAs falling, as these are linked to swap rates.On a more positive note, Anna said 'there are others, mainly those providers that are less well-known, that have increased rates since the latest base rate cut'.Here's a look at the best rates currently on offer….
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