New inflation figures – showing another fall, to 3.2% – put the Bank of England in the spotlight to see whether it cuts the base rate which in turn steers interest rates on mortgages. Most analysts believe there will be several cuts over the rest of 2024.
Although only 22% of British households have a mortgage, interest rates often ‘set the mood’ for the overall housing market, which has seen a strong start to 2024 with more buyers expected to be out in force if rates are cut in the coming months.
