Mortgage Rates Today: What Moves Them
Why UK mortgage pricing changes, how fixed and tracker deals differ, and what to do near the end of a fix.
By Easy Finance Tips Editorial Team•
•
Updated 7 Jul 2024•
6 min read•
11,220 views
Bank Rate is not the whole story
Lenders price fixed deals from swap rates, which reflect expectations about future interest rates rather than today's Bank Rate. That is why fixed rates can move before any policy decision.
Fixed, tracker or discount
A fix buys certainty for a set period. A tracker follows Bank Rate with a set margin, so payments move both ways. Discounts follow the lender's own variable rate, which is at their discretion.
Six months before your fix ends
Start comparing early. Many lenders let you reserve a rate months ahead, and you can usually switch to a better deal if pricing improves before completion.
Sources
Easy Finance Tips provides general information and educational content, not personalised financial advice.
