UK Housing Market 'Finding Its Feet' as Prices Inch Higher; BP Profits Miss Forecasts
UK Housing Market Trends
The UK housing market has shown signs of stability as prices increase gradually, despite affordability challenges. Mortgage rates have risen due to expectations of Bank of England rate changes, but a slowdown in cuts is anticipated.
Affordability Concerns Persist
New buyers and borrowers rolling off fixed-term deals are facing increased repayment costs. However, if Bank Rate cuts materialize later this year, fixed mortgage rates should decrease.
BP Financial Performance
bp reported a solid performance in the first quarter, but profits fell short of expectations. The company announced a $1.75 billion share buyback program as part of its commitment to shareholders.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.