Following the Bank of England’s decision to hold interest rates at 5.25% today, Kate Steere, housing expert at personal finance site finder.com gives her thoughts:

“Although many will be frustrated to see the base rate held once again at 5.25%, it’s not all bad news. The housing market has been gaining strength in recent months, buoyed by experts believing that the Bank will cut the rates during 2024. On top of this, lower than expected inflation figures reported on 20 March has only added fuel to this fire. In fact, Natwest has already announced that they will be cutting their remortgage and tracker deals from today. Mortgage rates have been abnormally unstable over recent months, with new deals being pulled from the market sometimes within just weeks of going live. The concern is that this constant up and down could start to erode the fragile confidence that has been building amongst buyers.” 

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Kate Steere

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