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flanders and claire barrett. we have got stephanie flanders from bloomberg economics on the podcast. hello. hello, hello. and another friend of the podcast, claer barrett, from the financial times. thank you for having me. i'm glad you're here, so, interest rates at 3%, stephanie. gives a sense of how that feeds into real lives. in gives a sense of how that feeds into real lives.— into real lives. in terms of money that _ into real lives. in terms of money that is _ into real lives. in terms of money that is about - into real lives. in terms of money that is about 2 - into real liv...

2 million people in this country who are on a variable rate mortgage who will immediately see the impact of that 0.75% rise we have had today. the biggest since the '80s or '90s depending on who you believe. and for somebody with the average size mortgage, just from today's rise, but of course, that's the eighth rise we have had in succession from the bank of england. there's more pain to come for around 2 million people you roll off their mortgage fixed rates next year. they might see an even bigger rise because they're on a really low rate now and it'll probably be higher than it i...

The group of people i am more worried about at the moment are renters. there's lots of focus on people who have got a mortgage. they are the lucky ones, they are going to end up owning an asset even if they pay a bit more for it than they have been used to for the past few years, but renters will get that pain passed onto them from buy to let landlords who have higher rates of interest on properties that they are renting out. lots of them are also thinking about quitting the market. there is rental record demand, and people are having to pay more and more and they are not going to get anything...

we begin with both presidential campaigns getting down and dirty on the low road as the candidates themselves try to stick to the high road. the latest examples, killer tv ad that the obama campaign is using to welcome so-called welcome mitt romney to pennsylvania. and a top romney's surrogates complaint that the president should "learn how to be an american." let's go to our white house correspondent, dan lothian, watching all of this unfold. we've been saying it's getting ugly. >> reporter: certainly right. the fireworks today. the president was in texas attending a total of fundra...