Will Mortgage Costs Go Down?

UK

2023/01/26

Experts predict that mortgage rates ↓ to 4% by March due to increased competition in the market. A cooling housing market and the expectation that the base rate will not increase much this year are causing lenders to drop their rates. The avg 2-yr fixed mortgage rate is currently 5.8%, while the avg 5-yr rate is slightly lower at 5.6%. It is difficult to predict exactly what will happen to mortgage rates, as it will depend on many outside factors.