It’s been an interesting few weeks with mortgage rates.

If we look at Barclays for example. Early in April, they increased rates on both their purchase and remortgage products.

Move forward less than 10 days and they cut their rates by up to 0.38%.

Shortly after, they reported a drop in rates to offer a sub-4% product ‘amid market turmoil.’

The good news for borrowers is that they weren’t the only lender to do this. Santander also recently relaunched a sub-4% rate.

Hopefully more will follow suit.

Although Trump’s Tariff announcements created turmoil with the global economy, some believe that this will lead to a mortgage rate war that could be a silver lining for borrowers.

The chaos caused has actually resulted in an environment where mortgage rates could reduce.

Why? If tariffs start to slow the economy, the Bank of England might have to cut interest rates more quickly to support growth. Some economists now expect three rate cuts of 0.25% this year, which would bring the base rate down to 3.75% by the end of 2025.

We’re already seeing some lenders reduce their mortgage rates in anticipation. So, if you’ve been waiting for sub-4% deals, it looks like your patience could soon pay off.

The Bank of England Monetary Committee is due to meet next month. With the latest inflation report showing a drop to 2.6%, this could build a case for a rate cut.

Although there has been some economic uncertainty, this could give some relief and peace of mind for people who are looking to move during the traditionally busy spring and early summer months.