Bank of England decides Bank Rate on 30 July, with markets expecting a hold at 3.75%

The Bank of England announces its next Bank Rate decision at noon on Thursday 30 July, alongside fresh forecasts and the meeting minutes; the rate stands at 3.75% and markets widely expect it to be held. That expectation matters less for mortgages than it sounds, because fixed rates track swap rates rather than Bank Rate directly, and swaps have edged up on renewed Middle East tension, prompting several lenders to reprice fixed deals higher this week. For buyers, waiting for a cut to feed through is the wrong strategy right now; the sub-4% deals seen earlier in the year are thinner on the ground and worth locking if the numbers work. For sellers, borrowing costs holding around current levels keeps demand steady but subdued, and with two MPC members voting for a hike as recently as June, the near-term risk sits with rates staying higher rather than falling.