Further mortgage rate rises could be on the way for homebuyers and owners, Rightmove suggests.
After a few weeks where mortgage rates have dropped – boosting hopes among buyers of getting on the property ladder more cheaply – the portal’s mortgage expert Matt Smith said there are signs that lenders are facing price pressures particularly ahead of the latest Bank of England interest rate decision due next month.
Smith said average rates for mortgage products continued to fall this week across most loan-to-value (LTV) ranges, albeit at a much slower rate.