Gary Howe

Swap Rate Spike Following Rachel Reeves’ Budget announcement, swap rates—a key determinant of fixed-rate mortgage costs—have surged significantly. Two-year swap rates hit 4.51%, reflecting higher expectations for future interest rates. If this trend continues, mortgage rates could rise, prompting lenders to prepare for rate increases. Given this volatility, it’s crucial for homeowners to review their […]

Mortgage Rates Rise Mortgage lenders are raising rates in response to global economic uncertainty and a consistent rise in swap rates. This shift intensifies market competition as lenders battle it with reduced profit margins to secure market share and build a strong pipeline ahead of 2025. Several factors contribute to this trend, including the increasing

Budget Anticipation The upcoming Autumn Budget is becoming a critical factor influencing financial markets. This budget is particularly significant as it arrives at a time when the UK is grappling with inflation, slowing economic growth, and the need for fiscal responsibility after years of pandemic-related borrowing. The budget’s impact on inflation, government debt levels, and

Base Rate Held Bank of England’s (BoE) Monetary Policy Committee (MPC) voted 8-1 to maintain the current Base Rate at 5.00%. The BoE decision to hold its base rate at 5%, even after the US Federal Reserve (Fed) cut its base rate by 0.5%, could be due to several key factors reflecting differences in economic

Rate Reductions Continue Continued reductions in swap rates have further lowered lenders’ fixed-rate mortgage products. With increasing competition, lenders may continue cutting rates to undercut rivals and attract more customers. This decline in mortgage rates has not only heightened competition but also improved affordability for borrowers. As competitive pressures drive borrowing costs down, consumers benefit from