Will mortgage rates fall? Your Budget questions answered

Published On Oct 30, 2024, 3:48 PM

The article discusses current trends in mortgage rates, the impact of a stamp duty surcharge on second homes, potential National Insurance tax increases affecting business hiring, the stability of the pension tax-free lump sum, and upcoming changes in bus fares and inheritance tax calculations for pension pots. Mortgage rates are anticipated to fall, though not as sharply as previously thought. The stamp duty increase could squeeze the rental market, increasing rents. Higher National Insurance could limit wages and hiring for businesses.

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Stock Forecasts

XHBView XHB chart on TradingView

Positive

Given the anticipated decline in mortgage rates, the housing market may show signs of improvement as affordability increases. Potentially more first-time buyers could enter the market.

SPYView SPY chart on TradingView

Positive

With the increase in stamp duty on buy-to-let properties, rental prices may rise, benefitting landlords who own rental properties despite the reduced number of new landlords entering the market.

IWMView IWM chart on TradingView

Negative

Higher National Insurance contributions could pressure businesses, leading to wage stagnation and reduced hiring capacity, potentially negatively impacting the economy.

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