Mortgage Rates

HC Deb 06 December 1979 vol 975 c289W

40. Mr. Parry

asked the Chancellor of the Exchequer if he will estimate the increase in inflation due to the recent increase in mortgage rates.

Mr. Peter Rees

The increase in the mortgage rate from 11¾per cent. to 15 per cent. on 1 January will add about 0.9 per cent. to the retail prices index.