This morning’s inflation figure: comment from Katie Pender at Target
22 May 2024
Katie Pender, managing director of Target, said: “Today’s inflation figure is great news, taking the headline rate to just above the Bank of England’s 2% target, and a sharp drop from the previous monthly figure. Could this herald a much-anticipated interest rate cut this summer, making borrowing cheaper for homebuyers?
“However, we mustn’t forget the many homeowners who will still be tied into higher mortgage rates for some time. Affordability and supply will remain significant issues and, with a General Election imminent, whoever forms the next Government must tackle these. Whatever happens next, the latest technology is essential to making the homebuying process easier and speedier. What we can do is to continue to support lenders and borrowers with technology adoption.”