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Households Benefit from Higher Rates
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UK households have benefited from £16 billion due to higher interest rates, with older households reaping the most. However, the foundation warns that this income boost may be undone by the end of 2024, as households' debts are expected to rise and people continue to remortgage onto higher rates.
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How could this trend of higher interest rates affect the housing market and mortgage industry?
How might the expected increase in households' debts impact the overall economy?
What measures can the government take to mitigate the potential financial challenges for households?
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