Inflation has fallen fairly rapidly over the last few months, hitting two per cent in June.
As a result, markets expect the Bank of England to start cutting interest rates in the near future, either in August or September.
Minutes from the most recent meeting in June showed that it was a "finely balanced" decision, which suggested that the Monetary Policy Committee (MPC) is readying a cut.
And with traders pricing in two rate reductions over the remainder of the year, mortgage rates have moved lower. Figures out just last week showed that the effective interest rate on new mortgages was 4.79 per cent in May, down from 5.19 per cent at the beginning of the year.
This story is from the July 07, 2024 edition of Sunday Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 07, 2024 edition of Sunday Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Potts shows he is Kane 'n' able
MATTHEW POTTS experienced a feeling of \"pure elation\" when he grabbed the wicket that may have changed the course of England's third Test against New Zealand.
Own goal spares Leeds' blushes at Deepdale as they stay on coat-tails
LEEDS breathed a sigh of relief with a stoppagetime equaliser to draw 1-1 at Preston as they stay in second spot in the Championship.
Bargain Hunt tusk master Richard insists illegal ivory item is junked
BARGAIN Hunt bosses landed in hot water filming this year's Christmas special when one of their experts bought a piece of ivory, which is banned in the UK.
Dolly's on look-out for a new...Dolly!
COUNTRY music queen Dolly Parton wants to transform the fortunes of an unknown singer by playing a younger version of herself.
A Merry (Widow) Christmas to all!
WOMEN in opera are forever dying of consumption or overwhelming emotions - and audiences could be forgiven for thinking their portrayals are a little outdated.
How we are taking back control of our borders
WHEN this Government came to office, Britain's immigration and asylum systems were broken.
Spotlight on firms exploiting arrivals
HOME Secretary Yvette Cooper is cracking down on unscrupulous firms employing illegal migrants, as she revealed almost 13,500 people with no right to be in the UK were sent home since the election on July 4.
Property market fears over homes for asylum seekers
HOME Office plans to buy hundreds of properties for asylum seekers could make \"the acute shortage of housing\" even worse, warn council leaders.
Tech billionaires pledge imillion to Trump fund
THREE of the world's top tech titans have each pledged $1million donations to Donald Trump's inauguration fund in a bid to repair relations with America's incoming President.
Assad could be betrayed by Kremlin
FALLEN Syrian dictator Bashar al-Assad may not be safe in his new sanctuary, experts warned last night.
