The Times - Mortgage rates may fall even further
The Bank of England base rate has been at its historic low of 0.5 per cent for so long that everyone assumed there was only one way for it to go — up, followed swiftly by mortgage rates. However, comments this week by the Bank of England’s chief economist, Andy Haldane, which suggested that interest rates could be cut again because of low inflation, prompted a rethink about whether lenders will react with even better mortgage deals.
Aaron Strutt, of Trinity Financial, told The Times: “Our exposure to the problems in Europe, the impeding election and the dangers associated with inflation all make the Bank of England’s job very difficult. Fixed rates are so cheap that it is tricky to see them getting much lower, but over the past few years we have seen them start to increase only to be rapidly brought back down.”
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