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Mortgage rates set to drop after tariff turmoil

  • Major lenders are cutting mortgage rates as banks respond to Donald Trump's trade tariffs, with Barclays offering rates as low as 3.99% for fixed deals.
  • Coventry Building Society has reduced its two-year fixed deal to 3.89%, highlighting competitive moves in the mortgage market.
  • Nicholas Mendes from John Charcol states that these cuts may lead to the Bank of England base rate dropping from 4.5% to 3.5% this year.
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Average US rate on a 30-year mortgage falls to 6.62%, easing for the third week in a row

The average rate on a 30-year mortgage in the U.S. declined for the third week in a row, another positive move for prospective homebuyers during what’s traditionally the housing market’s busy season.

·United States
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  • 55% of the sources are Center
55% Center
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Mortgage Strategy broke the news in on Tuesday, April 8, 2025.
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