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Further rate mortgage rates cuts to come

Despite the Bank Of England&#39s decision to maintain the base rate at 5 per cent, IFAs are predicting further rate cuts before the year is out.


London & Country Mortgages senior manager Patrick Bunton predicts: &#34Rates may possibly change by the end of the year but I do not think they will change for a few months.&#34


John Charcol technical manager Ray Boulger says: &#34It was no major surprise the monetary policy committee didn&#39t change the rate. But I expect more cuts this year by at least 0.25 per cent if not by 0.5 per cent.&#34


Bunton believes the MPC decision will help bring some stability to the housing market. He says: &#34The market is busy at the moment and if interest rates continued to fall the market was in danger of overheating.&#34


He points to property inflation showing some real extremes with some extraordinary price increases in some areas of the market skewing the overall average.

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