Mortgage Rates Could Dip Below 4% in 2024, Offering Relief to Homeowners
• Mortgage rates could fall below 4% by early 2024 as lending costs decrease, providing relief for homeowners and homebuyers • Growing optimism that property market has passed peak of rising rates as forecasts predict interest rate cuts next year • Several lenders already offering competitive fixed rates below 5%, with further reductions expected in coming months • Cheaper mortgages would be boost for PM Sunak amid cost-of-living crisis and pressure to cut taxes • Experts advise homebuyers not to wait if they've found right property, as timing market is difficult amid fluctuating rates