Mortgage Interest Rates 2024 Forecast Uk Government. Uk interest rates were cut on 1 august 2024 for the first time since 2020, bringing relief to many households and businesses struggling with higher mortgage costs and debt repayments. How to find the best mortgage rate.
The government’s official forecaster, the office for budget responsibility (obr), said at the time of the autumn statement in november that it expected house. With inflation rates hovering above the government’s target, the prospect of interest rate cuts appears distant, further impacting the trajectory of mortgage rates.