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Phoebus reaction to base rate decision
05 November 2026
Richard Pike, chief sales and marketing officer at Phoebus Software:
The increase was widely expected, and the mortgage market has already priced in much of the move over recent weeks, which is why borrowers have been facing higher mortgage rates.
Borrowers will be hoping this is a one-off rate rise rather than the start of another tightening cycle. With mortgage costs already under pressure and demand across the housing market subdued, the Bank needs to bring inflation under control without derailing the fragile recovery.
