Kelvin MacKenzie: Average mortgage rates rise to 5.75 percent, house sales fall through at 24.4 percent

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11.04.2026

Kelvin MacKenzie: Average mortgage rates rise to 5.75 percent, house sales fall through at 24.4 percent — Mortgage costs jump, home sales falter

Average mortgage borrowing costs have increased to 5.75 percent, up from 3.5 percent in January, indicating a sharp rise in borrowing expenses. Kelvin MacKenzie also highlights that the proportion of agreed house sales that fell through climbed to 24.4 percent in March.

These developments signal mounting pressure in the U.K. housing market, with MacKenzie remarking on the challenges homeowners now face when attempting to sell property under current conditions.

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MacKenzie previously attributed house price declines to changes in stamp duty and the introduction of a mansion tax on homes valued over $2 million, alongside higher interest rates, in a recent analysis. In a separate report, he noted that HSBC plans to cut 3,500 UK back office jobs due to AI adoption. Both developments have contributed to ongoing concerns about the outlook for the UK's property and financial sectors.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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