Andy Egwim argues it's a decent time to buy a house in the UK despite high interest rates. House prices have barely moved even as the Bank of England base rate hit 5.25%, and mortgage pricing depends more on SONIA swap rates than the base rate itself.
5.25%
Is it up or down? Should I wait to buy or should I buy now? My advice, that we're very pro home ownership, obviously, being in the financial sector, but 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 from March, and it's probably very likely that that will stay the same. But come back to me on that point once the decision's been made. But the thing that is driving the mortgage market here in the UK tends to be the Sonia swap rates. It's not a.
