Mortgage holders waiting for June base rate cut
Original Article Summary
Online remortgage searches dropped by 10% in June, indicating that many are waiting for an expected base rate cut. That is according to tech firm Twenty7tec, which found that searches dropped by 71,080 last month. The Bank base rate was previously held at 4.25% in May, with the next meeting taking place on 19th July. […] The post Mortgage holders waiting for June base rate cut appeared first on PropertyWire.
PropMatch Curated Analysis
Online remortgage searches dropped 10% in June as property investors and homeowners delay refinancing decisions, waiting for an expected 0.25% base rate cut in July. This 'wait and see' approach reflects growing confidence that rates will continue falling through 2024.
Investor Relevance
Critical for financing decisions - investors may benefit from delaying remortgaging until rates drop further, potentially saving significant costs on existing portfolios and improving acquisition economics for new investments.
Original Source:
PropertyWireStay Updated
Subscribe to our weekly briefings for curated property news and insights