Mortgage rates: When will UK interest rates go down?

Published On Jul 16, 2021, 7:52 AM

The Bank of England is expected to maintain interest rates at 5% for now, with potential reductions later in the year as inflation rates have decreased. The current inflation is significantly lower than last year's peak of 11.1%, allowing for a cautious approach to rate cuts. Experts predict the next cut may occur in November, with rates potentially dropping to around 3.5% by the end of 2025 if inflation stabilizes. High interest rates have implications for mortgages, credit cards, and savings, influencing borrowing costs and savings rates across the UK.