🏘️ All of the biggest six mortgage lenders have reduced their fixed mortgage rates The average 2-year fix has now hit 6.79%, figures show
If inflation is lower than expected, it could be an indicator that the Bank of England base rate is near or at its peak, which may prompt a reduction in mortgage costs.
“This week’s inflation data on Wednesday will be crucial to dictating lender pricing in the immediate future and, with further positive inflation numbers anticipated, the rate war is likely to continue apace.” “Given the release of significant economic data this week, Barclays’ rate revision might prompt other lenders to reassess and possibly lower their rates further, especially if the market remains favourable. This is starting off to be another positive week for mortgage borrowers, even for those borrowing at higher loan to values.”
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