BBC News - Mortgage rates are falling but don't celebrate yet
Among those walking through the doors of one Warrington estate agency, it is the buyers - rather than the sellers - who have more of a spring in their step.
"It's definitely a buyers' market at the moment," says Sadia Mian, director of Northwood estate agents. They are feeling confident enough to "under offer" when making a bid for a property, she says.
"There is no doubt mortgage rates need to reduce a few more times before most borrowers will be happy," says Aaron Strutt, of broker Trinity Financial.
Mr Strutt added the danger of delaying is the chance of defaulting to a lender's standard variable rate (SVR) when the current deal expires, and many SVRs have interest rates of 9-10%.
Ultimately, everyone agrees that there is little sign of a return to the ultra-low rates of less than 2% that benefitted homeowners for more than a decade before late 2021.
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