Average mortgage rates fall for the first time in months

Business

Average mortgage rates have fallen for the first time in months.

Both two and five-year fixed-rate deals have dropped, according to data from financial information company Moneyfacts.

The average rate on a two-year fixed deal is now 6.79%, down from 6.81%, while the average five-year rate dipped to 6.31%, a decrease from 6.33%.

Rates haven’t fallen since the spring.

A surprise drop in the rate of inflation has led to lower interest rate forecasts.

It’s now expected that the Bank of England will need to do fewer base interest rate hikes to bring inflation to its 2% target.

Products You May Like

Articles You May Like

2025 Grammys: Kim Gordon, Clairo, Nick Cave & the Bad Seeds, and More Nominated for Best Alternative Music Awards
Alabama shooting: Teenager killed and 16 people injured in US university attack | US News
Jeff Goldblum Weighs In On Box Office War
After Messy Press Surrounding Their Romance, Ariana Grande And Ethan Slater Have A Sweet Moment On The Wicked Red Carpet
At least 10 dead after bar shooting in Queretaro, Mexico | World News