Interview with the Bank of England's Governor Andrew Bailey on the impact of the Covid-19 pandemic

The video discusses the current state of mortgage rates, highlighting that while variable rates have seen some reductions, fixed interest rates remain high due to lender caution. The Bank of England's term funding scheme aims to support banks in passing on rate cuts. The housing market is largely inactive, and lenders are cautious about high loan-to-value mortgages due to uncertainties in house prices. The video emphasizes the need for prudent lending practices amid market caution.

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