A report from the Bank of England said that with global stock markets now stable after being volatile in August, markets were expected to undergo a “sharp correction, increasing the cost of credit to UK households and businesses.” “It is at risk that availability may be affected.”
However, the World Bank's Monetary Policy Committee added that mortgage holders remain “resilient to rising interest rates.” 
The committee said several factors affected global financial markets in August, including a possible U.S. economic recession, weakness in U.S. tech stocks and a sudden rise in the Japanese yen.
In the United States, the Dow Jones Industrial Average fell more than 1,000 points (2.6%) on August 5, but ended the month up 2%.
The FTSE 100 index fell 170 points (2%) on the same day, but has since regained its ground and closed at the end of August up 0.1% from the previous month.
“Volatility increased significantly across global financial markets in August,” the committee's Monetary Policy Committee Third Quarter Record states.
“Although short-lived, the range of movements in response to relatively limited economic news suggests that market-based financial vulnerabilities can amplify shocks,” the report added. Ta.
The committee said: “Markets remain susceptible to sharp corrections, investors are sensitive to short-term developments in a challenging global risk environment, and the cost and availability of credit to UK households and businesses remains high. “It may affect sexuality.”
Mortgage holders continue to grapple with rising interest rates, with interest rates rising from 0.1% in December 2021 to the current 5%, according to the report.
However, he points out that many mortgage holders continue to refinance at high interest rates.
“Overall, mortgage lenders have continued to tolerate rising interest rates, although some low-income households and renters remain under pressure,” the report said.
However, he added, “about a third of home loan users had not yet refinanced at a higher interest rate.”
The commission found that the proportion of people with mortgage loans was spending “over 70% of their cost-adjusted disposable income” on mortgage payments, well below the peak before the 2007 global financial crisis. , says it is expected to remain roughly flat.
The report added that mortgage and consumer credit delinquencies were “virtually unchanged” since the June meeting and remained low by historical standards.
