Mortgage Rates 2024 Forecast Uk. The bank of england made the first cut to interest rates in four years in august 2024, giving hope to mortgage holders that the borrowing squeeze is coming to an end. Higher mortgage rates could be on the way as market expectations realign to the first base rate cut coming in august.
Lenders cutting rates to compete. Mortgage rates have been falling thanks to positive inflation data and the belief that interest rates have peaked after the bank of england (boe) held the base.