Will more mortgage lenders up rates next week?

We are seeing a full range of tactical options from lenders at the moment, keen not to be too negative about the increasing cost of money, by appealing to specific markets and removing products. For example, lenders like Santander and TSB have cut rates for purchase applications but increased the equivalent remortgage rates, but Halifax has cut their remortgage deals on the same day, ignoring their homebuyer range of products. We need to see what the remortgage activity has been this year, has there been plenty of debt consolidation and longer overall terms which may be a turn-off for lenders? Are remortgage clients supplementing purchasers, given the clamber for strong starts to 2024? I think lenders will be looking at their mix of lending, and will cleverly remain positive whilst changing rates in both directions.

Shortly before the MPC announcement we saw interest rates starting creep up. Whilst the holding of the Base Rate has provided some stability, it has done little to invigorate SWAP rates and encourage Lenders to reduce rates.

Interestingly, a few lenders have made some reductions to certain products. Perhaps they were holding funds in reserve and waiting for an opportunity to strike.
Across the board, i think we will see some increases in rates over the coming week. I hope things will settle and they'll start to reduce thereafter.

I believe this is a blip, probably one of many we will endure this year, but the outlook for rates in 2024 looks positive.

Lenders would have priced in the fact that the base rate was remaining at 5.25% yesterday. We have seen some large reductions in rates from the highstreet in recent weeks, therefore I believe that any increases in what rates they offer will be driven more by service levels than anything else. The market has also seemed to react positively to the outcome of the MPC meeting yesterday with a fall in SWAP rates, this should mean that we don't see a large rush to increase rates.