Thanks to successive government policy, most don't have any substantial savings to speak of, those that do, being perfectly honest, aren't exactly struggling. Stocks usually a better option anyway.
Re, the 5/6%, that was is the rate the markets were 'pricing in' for next year based on gilt yields while truss was making a mess. I believe this has come down a little now but depending on what happens next there is still a significant risk.
I'm not sure I got much empathy when rates were at 15%
possibly not, but 5/6% on current house prices would be as bad if not even worse in terms of affordability vs wages
And yes house prices are daft. The problem the MPC has had for a few decades now is that the economically ideal interest rate for business borrowing and investment has generally been lower than the rate for the mortgage market. Ideally the government should've stepped in long ago with measures to restrain the housing market, if anything of course they've actually exacerbated it, particularly more recently.