Mortgage Rates 2024 Forecast Uk

Mortgage Rates 2024 Forecast Uk. High mortgage rates and persistent inflation meant transactions fell by a fifth last year and average prices dropped by 5% in the year to september. According to data from pound.

The bank of england made the first cut to interest rates in four years in august 2024, giving hope to mortgage holders that the borrowing squeeze is coming to an end. Lenders started slashing mortgage rates amid the bank of england’s decision to cut the base rate from 5.25% to 5%.