Will Mortgage Rates Go Down 2024 Uk. Are house prices going down? On 1 august 2024, the bank of england base rate fell to 5% from 5.25%.

The bank of england made the first cut to interest rates in four years in august 2024, giving hope to mortgage holders that the borrowing squeeze is coming to. Consultancy capital economics forecasts house prices will probably fall 1.5 per cent in 2024, and that mortgage rates will sit just below 5 per cent for most of the year.