UK GDP grows 0.6% in Q1 2026 as services lead broad-based pick-up

ONS data this morning show UK real GDP increased by 0.6% in Q1 2026, with services up 0.8% and construction up 0.4%. Stronger growth limits the case for near-term Bank Rate cuts, which feeds through to the swap rates lenders use to price fixed mortgages. For buyers, that trims the odds of materially cheaper fixed deals soon; for sellers, the firmer macro backdrop supports asking-price discipline. The print predates the worst of the Iran-shock energy disruption.