Projected Mortgage Rates 2024 Uk. The latest forecasts are for uk interest rates to start to go down from august 2024, where financial markets are pricing in around 2 cuts to the uk interest rate from 5.25% at the start of 2024 to 4.75% by the end of 2024. 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 an end.

However, the latest inflation figures show price rises accelerating for the first time since december, meaning hopes that rates might tumble have been put on ice for now. Interest rates on fixed mortgage deals are expected to fall over the coming weeks, despite the bank of england increasing the base rate to 4%.