Sub-4% mortgage rates now available
With sub-4% mortgage rates now available, and rate drops continuing, there are positive signs for home movers at the start of 2024.
Last summer mortgage rates rose to over 6% for typical fixed deals, but have dropped over the last four months as the falling pace of inflation has resulted in markets readjusting their expectations of when the Bank of England would cut the base rate.
Both the base rate and market expectations have an effect on the mortgage products consumers are offered.
The Bank of England increased interest rates 14 times consecutively in a bid to tame the double digit pace of price rises which came following the energy crisis when Russia invaded Ukraine.
The reduced mortgage rates are a good sign for home movers, and now could be the time to think about moving.
Thinking of moving? Get a free valuation of your home
If you are thinking of moving and would like a free valuation of your home, please get in touch with Preston Baker.
We are committed to get you the best outcome possible when you sell your home. We can also help you find your next home.
