Rory Joseph and Sebastian Murphy, directors at JLM Mortgage Services, discuss the future path of Bank Rate and whether we could see 3% interest rates by the end of 2025.
Related topic: Bank of England
Pill says the need for such caution "points to a gradual withdrawal of monetary policy restriction".
The number of tracker mortgages taken out has risen from 118,818 in 2021 to 198,044 by Q1 of 2024.
Bailey says the Bank could be a “bit more activist” if inflation continues to ease.
Over one in ten (13%) are not confident in their ability to meet their mortgage repayments over the coming months.
Mortgage approvals have climbed for the third consecutive month.
Many economists predict that a further rate reduction will come at the Committee's meeting in November.
Sentiment in the housing market remains low.
Markets are currently pricing in a 25% chance of another cut tomorrow.
The PRA is replacing the SME Supporting Factor with a new SME lending adjustment for banks.
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