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Interest rates cut to lowest level in more than two years
The Bank of England has cut interest rates to 4%, taking the cost of borrowing to the lowest level for more than two years. The cut, from the previous rate of 4.25%, is the fifth since August last year, but was only narrowly backed by the Bank's policymakers who took two votes to reach a decision.
Mortgage rates fell to their lowest levels since March because job growth has been surprisingly weak this summer.
Since early June, however, homebuyers have gotten some relief, with the flagship mortgage rate average moving further and ...
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