April 2026: mortgage rates rise amid global uncertainty

In recent weeks I've seen more buyers entering the market, with activity picking up compared to earlier in the year, despite ongoing global uncertainty affecting mortgage pricing.

Rates move up amid global uncertainty

Since mid to late March, mortgage pricing has come under upward pressure as global uncertainty, particularly the conflict in the Middle East, has pushed up lender funding costs. What we're seeing:

• Some lenders increasing fixed rates or withdrawing products
• Swap rates rising after a period of steady decline
• Short term volatility in mortgage pricing
• Greater sensitivity to global events and market sentiment

This is an important reminder that fixed mortgage rates don't just follow the base rate. They are also influenced by wider financial markets. I've already seen lenders adjust pricing several times over the past few weeks, which shows how quickly the market can shift.

Bank of England: rates held in March

The Bank of England held the base rate at 3.75% at its March meeting, with a unanimous decision to pause following earlier reductions. What this means:

• The Bank is taking a cautious, wait and see approach
• Inflation and wage data remain key to future decisions
• Further reductions later in 2026 are still expected by many analysts, depending on how inflation and the wider economy evolve
• Stability is beginning to support confidence across the market

Spring momentum continues

Despite recent rate movement, market activity has continued to build, with buyers active and transactions progressing.

• Demand is increasing, but remains measured
• Well prepared buyers still hold a strong position
• Sellers are responding well to proceedable offers
• Realistic pricing is supporting smoother transactions

Planning a move this spring or summer? Timing matters

In a market where rates can move both up and down, timing and preparation become even more important. If you are planning to buy or remortgage this year:

• Speaking to a mortgage adviser early gives you clarity
• Securing a rate can protect you against further increases
• Having a Mortgage in Principle strengthens your position
• Being prepared allows you to act quickly when needed

Why a mortgage adviser matters in a changing market

• Access to a wide range of lenders, not just one
• Different lenders assess income differently, particularly for self employed clients
• Guidance through affordability and documentation
• Support from application through to completion
• Monitoring rates after application: if a lender improves pricing before completion, I can often switch you to the lower rate
• Advice that works whichever estate agent you buy through

When rates are moving in both directions, having someone actively managing your application can make a real difference.