The Bank of England has kept UK interest rates at 4% following its latest Monetary Policy Committee (MPC) meeting. While inflation is easing, the Bank is waiting to see how Chancellor Rachel Reeves’s Budget will impact the economy before making any changes.
For homeowners and buyers, this means borrowing costs remain steady—for now. Mortgage rates are likely to stay at current levels, providing some certainty for those looking to move or remortgage.
With inflation showing signs of slowing, the market may see a rate cut later in the year, which could make mortgages more affordable and stimulate activity in the property market. Keeping an eye on these developments can help buyers and sellers plan their next move with confidence.