Mortgage Rates Drop Below 4% as Inflation Falls, Over 1 Million Homeowners Set to Benefit
• More than a million homeowners to benefit from fall in mortgage rates next year • Lower-than-expected inflation pushed down cost of borrowing • Five-year fixed-term mortgage rate below 4% for first time in months • Prices rose 3.9% in year to November, smallest increase since 2021 • Economists expect Bank of England to open door to rate cuts as early as February