UK, US Mortgage and Savings Rates Shift

Mortgage rates have remained below recent peaks in both the UK and US, with the latest Freddie Mac survey reporting US 30-year fixed rates at 6.75%. In the UK, major lenders including Barclays, Nationwide, Skipton, and TSB have cut mortgage rates, with some deals falling below 4% and potentially saving homeowners over £1,000 during fixed terms. Experts advise borrowers to compare rates as online banks often provide more competitive pricing than traditional institutions. These rate cuts are driven by falling swap rates and intensified competition. UK savers are also encouraged to look for higher-yield accounts, as many big banks continue to offer low savings rates. Both mortgage and savings markets are shifting, providing new opportunities for consumers amid economic changes.