Will mortgage rates fall this year?

Mortgage rates have tumbled to their lowest level since September 2022. Whether you're buying a home, remortgaging or a buy-to-let landlord, we look at the outlook for mortgage rates this year

Multi-coloured vibrant row of terraced houses in Notting Hill, London as mortgage rates remain high
What will 2025 hold for UK mortgage rates?
(Image credit: Alexander Spatari)

The average two-year fixed mortgage rate has fallen to its lowest point since the start of September 2022, before the disastrous “mini-Budget” was announced.

A series of interest rate cuts has lowered the cost of mortgage deals, bringing good news to first-time buyers and homeowners looking to remortgage.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.