📉 Brokers believe mortgage rates will decrease even if the base rate goes up
“This fixed rate price war will be welcome news to borrowers that saw rates rocket after the mini budget. As there’s an expectation that base rate could rise further it shouldn’t have an immediate impact on the improvements that have been feeding through to fixed rates and we could see more come through.”
“I am expecting we will continue to see a decline in rates to be concentrated in the next couple of months.” Approvals for remortgaging also fell to 26,100 in December from 32,600 in November, the lowest level since January 2013.
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