Recently, the average rate on the 30-year fixed mortgage plummeted to 6.4%, marking the lowest rate observed since April 2023. In addition, the 15-year fixed rate also decreased to 5.89%, reaching its lowest level since early May 2023. This drastic drop in mortgage rates can be attributed to a weaker-than-expected monthly employment report, leading to
Real Estate
Following the Bank of England’s recent decision to lower its Bank Rate to 5%, major high street lenders in the UK have started reducing their mortgage rates. This move signifies a potential relief from financial strain on households as interest rates have been cut for the first time in over four years. Lenders such as