Will mortgage rates keep falling and is the crisis over?
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 10 December 2023
⏱️ 60 minutes
🧾️ Download transcript
Summary
The best mortgage rates are now falling towards 4 per cent, whereas not so many months ago they were rising towards 6 per cent - and many deals climbed above that.
So is the mortgage crisis over and how much further will rates fall?
On this podcast, Georgie Frost, Helen Crane and Simon Lambert discussa year of mortgage madness, what could happen next and - most importantly - what can those who need to remortgage or buy a home do.
Plus, as gold hits a record high and bitcoin soars again, what's going on and should investors buy in?
We discuss the case of the savers whose Isa savings of more than £600,000 went missing thanks to NatWest.
And finally, This is Money lost a team member last week. Our development editor Richard Browning, a founding member of This is Money back in 1999, sadly died suddenly.
The podcast plays tribute to Rich - the man who helped build the internet and a much-loved and very funny guy.
Transcript
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| 0:00.0 | This podcast is dedicated to the memory of Rich Browning. |
| 0:06.4 | Welcome to This Is Money podcast. I'm Georgie Frost and joining me and Simon Lambert today is Helen Crane. |
| 0:12.1 | And coming up, do we have a mortgage price war on our hands of nationwide slashes rates? |
| 0:17.0 | Again, the cheapest deal on the market is now 4.29%. Where next? Gold hits a record high. |
| 0:24.1 | Bitcoin is raging again, but oil, well, that hits a five-month low. Simon explains all. |
| 0:29.7 | We cover the case of the missing 600 grand ICER and Crane is back on the case. This time she takes |
| 0:36.0 | aim at Tesco. Don't forget getting set up to date with all the |
| 0:38.8 | latest breaking money news. Just go to this ismoney.co.com or download the app. Don't forget, |
| 0:45.2 | you can stay on top of what's going on in the markets by tuning in to the Digest and Invest |
| 0:48.8 | Podcast by Itara. Go to your regular podcast platform and listen on the go. Digest and Invest by |
| 0:53.5 | Itora, the podcast for those interested in trading and investing. |
| 0:57.0 | But first, Nationwide has reduced its mortgage rates once again, |
| 1:00.9 | bringing the cheapest deal on the market down to 4.29%. The move has sent ripples across the |
| 1:06.4 | mortgage market after it announced its 11th consecutive round of rate cuts in just four months. So it means |
| 1:13.5 | the best rates available now are almost 1% lower than the Bank of England base rate. So are the bad |
| 1:20.4 | times well and truly over? Helen, Simon, welcome. Helen nationwide, 11 times. Yeah, they've been quite busy. So I don't think |
| 1:32.2 | this means that the bad times are completely over, but things are certainly looking a lot better for |
| 1:37.1 | people needing a mortgage than they were at the start of this year. So the cuts by nationwide, |
| 1:42.5 | the biggest cut is 0.31%. So it's reasonably chunky. And as you said, |
| 1:47.8 | the best rate on offer from them now, which is actually a market leading rate, is 4.29%. That's for a |
| 1:53.9 | five-year fix with a £9.99 fee. And that's to be with a 40% deposit. If you want to fix for two years, the cheapest rate |
| 2:04.3 | is 4.65%. So it's looking a lot better than it was previously. And as you said, yeah, 11 cuts. |
... |
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