In the UK at least, about a quarter of mortgages are on variable rates. Of those on fixed rates, all their other bills have gone up, and will continue to do so.

In the UK at least, about a quarter of mortgages are on variable rates. Of those on fixed rates, all their other bills have gone up, and will continue to do so. In many cases this means people’s mortgages are no longer affordable even if they haven’t changed. It’s not a good situation, and telling people they’re technically incorrect in their complaints because some day in the future they might be able to heat their house again is standard economist fare.