Mortgage Interest Rates 2024 Forecast Uk 2024. Competition between mortgage lenders has intensified ahead of a key decision on interest rates by the bank of england. The bank of england made the first cut to interest rates in four years in august 2024, giving hope to mortgage holders that the borrowing squeeze is coming to an end.

House prices rose 1.7% in 2023, the halifax announced last week, underlining how positive the data has become since last summer, when declines of 5% looked likely to widen. Competition between mortgage lenders has intensified ahead of a key decision on interest rates by the bank of england.