Interest rates will fall at their fastest rate, the financial crisis of 2008, economists have predicted, the relief of the holders of sacrifice mortgages of the high costs of indebtedness.
The Bank of England is expected to reduce interest rates from 4.5% to 4.25% next week in what would be the second rate reduction this year, since it has already fallen from 4.75% to 4.5% in February.
Economists are staring at additional rates cuts this year, which could cause up to 1% in the next six months. This is in response to the protectionist commercial policies of President Trump, which Clare Lombardelli, a vice governor of the Bank of England, warned that it could “depress” the growth of the United Kingdom.
Rate cuts are established to reduce the cost of loans to less than 3% for the first time since October 2022.
Duration The financial crisis, the rates fell from 4.5% in October 2008 to 0.5% in March 2009.
According to reports, Barclays has said that he anticipated rates falling to 3.5% in September.
Barclays is among a host or known lenders that have reduced mortgage rates this week to 0.25%.
Barclays, HSBC and Natwest have stained the other six great lenders in Halifax, Nationwide and Santander to offer fixed rates below 4%.
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