Housing market bounces back as mortgage price war boosts sales Business

By the end of December, the average rate on a two-year fixed rate mortgage was 5.94pc, down nearly a whole percentage point from the peak reached over the summer.

Lenders have slashed mortgage rates even further so far this year, with deals now available below 4pc from high street lenders.

Tarrant Parsons, Rics senior economist, said: “Supported by an easing in mortgage interest rates of late, buyer demand has now stabilised, and this is expected to translate into a slight recovery in residential sales volumes over the coming months.”

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This notice was published: 2024-01-18 06:41:39

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