Q&A: What today's ECB rate hike will mean for me and my mortgage

Number of homeowners looking to switch their rates or move lenders is expected to surge further

Further rate hikes are expected this year and into 2023.

The European Central Bank (ECB) has announced its third interest rate hike today adding 0.75% to its base rate. 

The rate hike, the third this year, will add further pain to homeowners already dealing with rising energy prices and grocery bills.