Projected Mortgage Rates 2024 Uk. According to the latest forecasts by financial analysts, uk interest rates are expected to stay around the current level of 5.25% until summer 2024. Uk interest rates were cut on 1 august 2024 for the first time since 2020, bringing relief to many households and businesses struggling with higher mortgage costs and debt.
However, the latest inflation figures show price rises. High mortgage rates and persistent inflation meant transactions fell by a fifth last year and average prices dropped by 5% in the year to september.