The positive momentum in macro data seen at the start of the year is beginning to wane as the economy increasingly looks for a catalyst to elicit any sustained improvement. Banks are continuing to lend more cautiously following the pre-emptive cuts in mortgage rates seen at the start of the year. January saw the typical 2-year fixed mortgage rate fall to just over 4.7%, however, recent weeks have seen this rise back to 5% as investors expect only one rate cut for 2024. This is starting to feed t ....
