Interest Rate Rises Taking Their Toll?

Much of the debate in the media right now seems to be surrounding whether or not the recent interest rate rises are likely to lead to a significant cooling off in the housing market. If house prices are to fall (or if they are to rise at a slower rate, at least) then it's likely to occur in conjunction with a slowdown in consumer spending.

The news from Reuters that many people are skipping bill payments may be an indication that some of us are finding ourselves in a slightly tighter financial position than we might like.

It seems that more of us are not paying our Council Tax bills on time (as well as other utility bills), with the suggestion being that late bill payments are down to many of us finding it that little bit harder to keep up with mortgage repayments. Scare-mongering or an important indicator? We'll have to wait and see.