Nationwide and Barclays among first to up mortgage rates as conflict in Iran raises inflation fears

With tensions escalating in Iran, major lenders like Nationwide and Barclays have started hiking mortgage rates, signaling a potential rise in borrowing costs. This move is driven by growing concerns over inflation as the conflict in the Middle East disrupts global supply chains and energy markets. It's a wake-up call for homeowners and policymakers alike, highlighting the interconnectedness of geopolitical events and economic stability. These rate increases could have a ripple effect on consumer spending and overall economic growth.