Blog Post

Trimming mortgage rates

Gill - Head Gillian Bell May 8, 2025, 13:30 PM

Mortgage rates are beginning to ease, with sub-4% deals reappearing on the market.

The average two-year fixed mortgage rate is 4.54%, down from 4.66% at the end of February. The average five-year fix is now 4.32%, down from 4.39%.

Many banks and building societies have trimmed rates as expectations of further cuts build. The Bank Rate has been cut to 4.25% this month, following a hold in March.

IMF now forecasts three cuts this year, up from two, as broader US tariffs shift global sentiment, despite inflation remaining elevated. Source: Dataloft by PriceHubble, Bank of England as of 31 March 25 (75% LTV), IMF

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