The UK has experienced 14 consecutive interest rate rises, affecting both mortgage holders and savers. According to the Office for Budget Responsibility (OBR), in 2023 the gains from higher savings returns have surpassed the costs of rising mortgage rates, slightly increasing real household disposable income. However, this improvement is flanked by decreases in disposable income in 2022 and an expected drop in 2024. The impact of these rate hikes has been uneven, with many having minimal savings and large sums in non-interest-bearing accounts. The OBR warns of further financial strain in 2024 as fixed-rate mortgages expire, leading to higher debt interest payments and a decline in disposable income. This forecast remains significant even if the Bank of England does not increase rates beyond the current 5.25%. The situation is also impacting non-homeowners, contributing to rising rents. Overall, the OBR suggests tougher financial times ahead, even without additional rate hikes.