Most of the policies were quickly reversed but the Mini-Budget had significant implications for people’s personal finances – perhaps most notably in the mortgage market. Today, mortgage rates have eased significantly and are only slightly higher than they were before the Mini-Budget, but government bond yields have been rising again in response to new fiscal challenges. After jumping in the aftermath of the Mini-Budget, mortgage rates remained elevated thanks to a combination of high interest rates, inflation and swap rates. They rose again in the summer of 2023, with the average two-year rate surpassing its Mini-Budget peak to reach a new high of 6.86% on 26 July 2023. During the Mini-Budget crisis, 30-year government bond yields peaked at 5%, according to investment platform AJ Bell.