It comes after inflation fell by more than expected – dipping to 7.9% in the 12 months to June after spending two months previously stuck at 8.7%
Major high street lenders have started cutting mortgage rates this week – sparking hope for struggling homeowners.
It comes after inflation fell by more than expected – dipping to 7.9% in the 12 months to June after spending two months previously stuck at 8.7%.
This has led to hopes that the Bank of England may not have to raise interest rates to levels as high as previously feared.
The BoE will next make an interest rates decision on August 3 and is now widely expected to raise the base rate to 5.25% instead of 5.5%.