BoE’s Bailey says he hopes mortgage rates will keep on falling

LONDON (Reuters) – Bank of England Governor Andrew Bailey said on Wednesday he hoped that the recent fall in the cost of mortgages would continue.

“Obviously we have had a big change in market interest rates in the last few months and so the cost of mortgages is coming down,” Bailey told lawmakers in parliament at a Treasury Committee hearing.

He said he did not want to comment on the outlook for monetary policy “but let’s just take the market for a moment – obviously that is feeding through into mortgage costs and I hope that is something that continues.”

(Reporting by David Milliken and UK bureau, writing by William Schomberg; Editing by Kate Holton)