The Mortgage Market in May 2026: What Home Buyers Need to Know
A practical guide to what has changed, what is likely to change next, and the steps you should be taking right now to protect your position. Published 13 May 2026 | MJP Conveyancing If you are buying a home in the spring of 2026, you are doing so in a mortgage market that has changed substantially in the space of weeks. The picture that was emerging in late 2025, of steady rate cuts, falling fixed mortgage pricing, and a gradual return of buyer confidence, was knocked sideways by the conflict between the United States, Israel and Iran in late February. Although a ceasefire has eased some of the worst volatility, mortgage rates remain meaningfully higher than they were at the start of the year, the Bank of England is holding rather than cutting, and the cheap fixed deals available in January are no longer on the market. This guide sets out the position as it stands today, explains why fixed mortgage rates do not move in step with the base rate, and gives you a clear se...
