---
title: "The First Rate Rise in Three Years: What Thursday Means for Your Mortgage"
description: The Bank of England is set to raise rates to 4% on 5th November. What it means for fixed and tracker mortgages, savers and buyers.
author: Dr Marina Nani (Editor-in-Chief)
date: 2026-10-28T22:49:58.743Z
updated: 2026-10-28T22:51:34.197Z
canonical: https://www.sovereignmagazine.com/article/bank-of-england-rate-rise-november-2026-mortgage
image: https://cdn.nanimediahouse.com/pexels-3639508.webp
categories: Markets, Real Estate
content_type: Analysis
region: United Kingdom
publication: Sovereign Magazine
access: members
about:
  - type: Organization
    name: Bank of England
    description: The Bank of England is the central bank of the United Kingdom. Its Monetary Policy Committee sets Bank Rate, and it regulates banks and building societies through the Prudential Regulation Authority.
    url: https://www.bankofengland.co.uk
    sameAs:
      - https://en.wikipedia.org/wiki/Bank_of_England
---

On Thursday 5th November at noon, the nine members of the Bank of England's Monetary Policy Committee will announce their decision on Bank Rate, and almost every economist who follows them expects a rise. A Reuters poll found 54 of 63 economists forecasting an increase from 3.75% to 4%, which would be the first rise in more than three years. A month earlier, around nine in ten of them had expected rates to stay on hold for the rest of the year.

The decision arrives alongside the Bank's new quarterly forecasts. It comes the day after the US Federal Reserve held its own rate at 3.75% to 4% following a rise in September, and a week after Chancellor John Healey [delivered his first Budget](https://www.sovereignmagazine.com/article/budget-2026-first-time-buyers-landlords).

## Fuel prices pushed inflation to 3.5% in September

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