Base Rate is Holding – Is It Time to Make Your Move?
The base rate is steady, and mortgage deals are improving. Is now the right time to make your move? Here’s what the data says.
The Bank of England recently announced that the base rate is holding steady at 5%, which brings much-needed stability to the housing market. This means fewer surprises with your monthly mortgage payments and less volatility in mortgage rates.
But the real question is: Is now the time to make your move?
The Data Speaks: Why Now Could Be the Right Time
- Competitive Mortgage Deals: Just this week, Barclays launched new mortgage products, including the market’s lowest home loan rate at 3.71%, following Nationwide’s sub-3.75% deal. These are some of the most competitive mortgage rates we’ve seen in recent months, offering buyers a chance to lock in better terms than we saw in 2022, where rates were over 6%.
- Buyer Activity is Increasing: We’ve seen a 10% increase in buyer inquiries over the past two months alone, reflecting growing confidence in the market. With more buyers entering the market, competition is rising, which means now could be a great time to sell.
- Borrowing Costs Have Improved: Compared to last year, the cost of borrowing has decreased significantly, making it easier for buyers to finance their purchases.
Is This Your Opportunity to Act?
With mortgage lenders offering some of the lowest rates in months and buyer activity on the rise, now may be the perfect time to make your move. Whether you're a buyer or a seller, the current stability in the base rate means more predictability and better borrowing options, giving you a clearer picture of what to expect financially.
Don’t Let the Selling Process Hold You Back
We understand that selling your home can feel overwhelming, but that’s where Avocado Property comes in. We’ve always prided ourselves on supporting families through this important decision, helping them make the right moves at the right times.
If you're unsure about your mortgage options, Mortgage Tribe's advisors can provide guidance to help you make informed decisions based on current rates.
We’re Here to Help
To offer even more value, our friendly and experienced Avocado Partners wrote "Selling Your Family Home"—a practical guide that takes you step-by-step through the process. Whether you need to understand how an agent should price your home, market it effectively, or navigate offers, this book breaks it all down in simple, actionable steps.
If you haven’t already, now’s the perfect time to grab a copy to support your move before the year is out!