Industry experts predict further reductions in the months ahead but say the Budget may slow the pace of future cuts.

The OBR says market expectations for interest rates remain volatile and predicts further increases in mortgage rates.

September marks the first time inflation has been below the Bank of England's 2% target since April 2021.

Rory Joseph and Sebastian Murphy, directors at JLM Mortgage Services, discuss the future path of Bank Rate and whether we could see 3% interest rates by the end of 2025.

Pill says the need for such caution "points to a gradual withdrawal of monetary policy restriction".

The number of tracker mortgages taken out has risen from 118,818 in 2021 to 198,044 by Q1 of 2024.

Bailey says the Bank could be a “bit more activist” if inflation continues to ease.

Over one in ten (13%) are not confident in their ability to meet their mortgage repayments over the coming months.

Many economists predict that a further rate reduction will come at the Committee's meeting in November.

Sentiment in the housing market remains low.