The big rise in interest rates over the past two years has had a profound impact on UK household wealth, according to a series of briefing notes produced by the Resolution Foundation, a London-based think tank established by Clive Cowdery, the founder chairman of Resolution Life, a life insurance company.

Between the mid 1980s and the beginning of 2021 the total value of net wealth owned by UK households has been on a seemingly relentless upward path rising from around three times G...