What Mortgage - Fixed Mortgage Rates Fall to Lowest Level Since February

TSB, Virgin and Santander are the latest lenders to have cut mortgage rates over the last week as data emerged showing prices have fallen to their lowest in six months.

Nearly two years after the fateful mini-budget in September 2022 which sparked steep mortgage rate hikes, it would appear borrowing costs are beginning to ease finally for homeowners.

Harps Garcha, director at Brooklyns Financial, speaking to the What Mortgage, thinks there are more cuts to come. “TSB has kicked off the week with some sizeable rate cuts, and you can bet other banks will follow suit as swap rates keep sliding,” she said. “Now that the holidays are done, these steady drops in rates are sure to fire up the housing market.”

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