This week brings more good news for the housing market as mortgage rates continue to fall. Since the start of 2024, major lenders, including Barclays, HSBC and Halifax, have cut their mortgage rates substantially with some dropping them by as much as 0.52%.
Yesterday's news comes from the popular high-street lender, Nationwide, dropping its rates by a whopping 0.81% and offering deals as low as 3.84%. Entering the 3% region is a positive development for those in the market for a mortgage, and reassures buyers that the market is resuming back to some kind of normality.
The rate cuts by major lenders such as Barclays, Santander, HSBC, Halifax, and now Nationwide indicate a trend that could benefit both new homebuyers and existing homeowners looking to re-mortgage.
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