In article on 9 December carried the headline ‘Rachel Reeves sends mortgage rates soaring to highest in 18 months after Labour budget.” This was inaccurate. As the article made clear, mortgage rates were not at their highest in 18 months in December 2024. Rather, the average five-year fixed-rate mortgage rate saw its biggest month-on-month jump since August 2023 between November 2024 and December 2024. This correction has been published following an upheld ruling by the Independent Press Standards Organisation. The article can be found here.
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