Mortgage Rates Drop Below 4% for First Time in Months, Over 1 Million Homeowners Set to Benefit
• Mortgage rates have fallen below 4% for the first time in months following a bigger than expected drop in inflation to 3.9% • Over 1 million homeowners set to benefit when their fixed rate deals expire in 2024 • Further mortgage rate cuts expected in 2023 as pressure builds for Bank of England to reduce interest rates • Analysts predict interest rates could be cut to around 4% by 2025 • Falling interest rates could deliver £15 billion boost to Government finances ahead of Spring budget