The latest inflation figure of 10.1% makes another base rate rise “almost inevitable”, experts say The rate currently sits at 4.25% and could reach 4.5% come 11 May 🤔 So what does this mean for your money? ⬇️ gracegausden93 explains
But those hoping for pre-mini Budget rates will be disappointed, as they aren’t expected to come down more than 4 per cent this year.
Instead, opting for a two-year fix, then remortgaging when rates may have come down is probably the best bet. As usual it’s best to speak to a mortgage broker.as a result of rising interest rates and lower inflation also means the longer-term value of savings will improve a bit. Opting for a long-term fix could be a wise move for those that want to ensure their money works as hard as possible if interest rates do edge down in the future.
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