Have Mortgage Rates Finally Peaked?

Finally, the announcement yesterday that Inflation has halted, signalled a surge in share prices of housebuilders, with the optimism that fixed rate mortgages will begin to drop and we have reached the peak of interest rates, the massive house-building machine might start to slowly turn again. it is actually astounding that these indicators have such a prominent effect on the whole economy, almost as if we are all being led blindly in all directions with no control over our livelihoods, savings or basically our futures, all is determined by external influences beyond our control.

It would be easy to blame the government, and we will see following today's bi-elections what the mood of the electorate might be to the current state of the economy, history tells us that we tend to have seven years good and seven years foul, (the Joseph Effect) and it does not seem to make a great deal of difference which party is governing during these periods.

Essentially though, although Interest rates are currently eye-wateringly high compared the past 14 years it does look like things are stabilising, and with a little fortune in the next six months we might be back to the levels of October 2022 which do become more manageable.