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Interest rate rise forecast

The continuing strength of the housing market may trigger the Bank of England to raise interest rates, according to experts.


Net mortgage lending rose by £1.59bn in November, while the British Building Societies Association reported a £809m hike in mortgage advances by its members, compared with a rise of £671m the previous month.


This suggests house prices are likely to remain strong for several months.


Commentators claim this will concern the Bank of England which has raised rates twice in since September to help prevent a buoyant housing market setting off inflation. Another increase may follow as the market remains strong.


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