News

June 2026

Market news first as Rightmove released it’s latest HPI showing that house prices fell by 0.6% in June, the biggest June drop in 14 years. Given the uncertainty surrounding the Gulf conflict, rising oil and fuel costs, persistent inflation fears and fixed mortgage rates increasing by around 1% since March, the decline is hardly surprising. The slowdown has encouraged vendors to either hold back on listing property or to reduce asking prices to attract buyers during the peak spring selling season. Despite this, market activity remains relatively strong. Sales agreed are down 6% year-on-year but are broadly in line with 2024 levels and still 5% above 2023.

However, as the Gulf conflict shows signs of de-escalation, a reduction in geopolitical and inflationary pressures will lead to lower mortgage rates and provide a welcome boost to the purchase market in the months ahead. That trend seems to have started already with Nationwide cutting rates across the board and coming in with a sub 4.3% 2-year fix and 5-year sub 4.4%. Others will surely follow.

A quiet afternoon as the markets saw less volatility which is reflected in the latest numbers.

Latest numbers:

• Oil down 5% at $82.
• FTSE down 0.37%
• 10 year gilts down at 4.78%.
• Swaps down between 4.5bps & 6.5%.

Interest Rate Rise is still another 6 months away - they have been saying this for 5 years.

http://www.thisismoney.co.uk/money/news/article-1607881/When-UK-rates-rise.html

MCheck back here regularly to find out what's going on at WMortgages.

Another new mortgage lender

Secure Trust is looking into the viability of a mortgage launch in the UK, potentially into the buy-to-let market.