Interest rate decision days - Twenty7tec commentary

18 December 2024

Interest rate decision days

Twenty7tec looked at how the Bank of England decision days affect the mortgage search activity.

In raw terms, interest rate decision days are 5.23% busier than the average Thursday.

They are 4.38% busier than the prior Thursday and 7.16% busier than the Thursday two weeks prior to the decision.

Bank of England decision days are also 5.59% busier than the Thursday after the decision and 9.94% busier than two Thursdays after the decision.

Nahan Reilly, director at Twenty7tec says:
“Interest rate decision days are busier than usual for advisers. We see an uplift on the day itself compared to the two Thursdays prior to the decision and the two subsequent Thursdays. On average, decision day is around 5% busier than the Thursday before and the one after the decision.

“Homebuyers and landlords love clarity. When they know the outcomes of the MPC, buyers want to know as soon as possible how it has affected products in the market. That’s why we work so quickly to get all the lenders’ rates adjusted to the new normal. It takes a day or so for the lenders to reposition their products, so by the Monday after the decision, it’s business as usual.”