Several lenders have increased their mortgage rates in the past few days - though experts predict this trend may reverse soon
? Have you got a mortgage-related question you need answering? Email in and we’ll get one of our experts to reply. Nick Mendes, mortgage technical manager atMortgage rates in the UK are shaped by various factors, and they differ among lenders. Each lender has its own approach to setting mortgage rates.
The Bank of England , like other central banks, changes the base interest rate as a primary tool to influence inflation levels in the economy. An increase in the base interest rate by the BoE makes borrowing more expensive for consumers and businesses. At the beginning of the year, the market was factoring in six to seven cuts to the base rate in 2024. Now, the expectation is for the base rate to be cut about three times this year, reaching around 4.5 per cent by December. This correction in early market predictions has resulted in an upward trend in mortgage rates since the start of February.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of England under new pressure to cut interest rates as mortgage arrears growBudget watchdog says it is unclear how Jeremy Hunt's spending plans 'add up'
Read more »
State pension needs to rise but be means tested, says ex-Bank of England economistDavid Blanchflower said for those relying on the state pension, the payment was 'very low' and needed to rise, but that it would probably need means testing
Read more »
Why Pollock may be England's next breakthrough starWith the Under-20 Six Nations producing senior internationals quicker than ever before, BBC Sport looks at why Henry Pollock might be England's next breakthrough star.
Read more »
Why Armistead Maupin Set His Latest Tales of the City Novel in EnglandNick Levine has an audience with the legendary LGBTQ+ author, who opens up to him about his new book Mona of the Manor, relocating to the UK, and gender-critical feminists
Read more »
Why Cristiano Ronaldo has been banned in Saudi Arabia and why his gesture is offensiveCristiano Ronaldo will miss Al Nassr's next match after he was banned for a gesture he directed at opposition fans
Read more »
Why Manchester United face so many shots – and why that isn’t all bad newsUnited look like one of the most frantic and haphazard sides when working against the ball, yet Onana has eight clean sheets this season
Read more »