Short excerpt from a YouTube video discussion about mortgage market direction. Speaker B advises pro-home-ownership, notes house prices have been relatively stagnant despite large interest-rate increases over the prior 18 months, and cites the Bank of England base rate as 5.25% with an upcoming March decision likely to leave it unchanged.
5.25%
I'm going to ask you, could you tell us the trend? Probably ask a question that most people would say, who knows? Where is the mortgage market going? Is it up or down? Should I wait to buy or should I buy now?
My advice, we're very pro home ownership. Obviously, being in the financial sector. I think that's where house pricing, even with a big increase in interest rates over the last 18 months, has remained relatively stagnant. There's a lot of talk about rates peaking currently. So bank of England base rate is 5.25%. And there's another rate rise due in the next few days for March, and it's probably very likely that that will stay the same. But come back to me on that point, once the decision has been made.
