Are mortgage rates going to go down?

When it comes to making predictions about how things will pan out in the future, many people want to know what is going to happen with mortgage rates. Whilst it is always difficult to give an accurate prediction, there are certain things we can rely upon to give us an indication as to whether mortgage rates are going to go down. 

Currently, in mid-2023, there have been higher mortgage costs, and consequently the number of UK mortgage approvals has fallen. There is now a general consensus that mortgage rates could slowly decline throughout the year, in spite of interest rates increasing. 

Regardless of what ends up happening with mortgage rates, in reality, it is important to remember that whatever does could impact on your current and future finances. This means that it would be a good idea to explore and consider a range of options and speak with mortgage experts. 

At Eminence Mortgages, we will be here to help you to make a decision which is best for your current circumstances. We will take into account your personal circumstances, such as your current and future affordability, and we will give you the best recommendations in line with your finances. Remember, getting a mortgage does not need to be a daunting or overwhelming process, and we are really here to make everything a lot simpler so that you can get your priorities straight and think clearly about the potentially big decisions you may want to make.

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