UK inflation has eased to 3.2 percent, according to the latest Office for National Statistics figures. The Consumer Prices Index inflation fell from 3.4 per cent in February to 3.2 per cent in March, meaning the rate is now at its lowest since September 2021.
“Those looking to climb the property ladder may be hesitant to take the next step, hoping interest rates may fall, but there's never a perfect moment to buy a home. Don't let the pursuit of potential savings mean you miss out on your dream home - mortgage offers typically last between three to six months, giving you the flexibility to switch to a better rate if interest rates are cut later this year.
"This all points to a positive domestic story of an economy exiting a mild recession but does mean that pressure will remain on those servicing debt and with ongoing global market uncertainty surrounding the Middle East crisis, the coming months are set to be shaky."
Property News Mortgages Bank Of England
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