According to the HSBC UK Broker Barometer, one in five said the base rate should stay unchanged and less than 1% believed that any increase would be positive for the market.
A quarter of brokers favoured a deeper cut to 3.5% and only 16% supported a more aggressive reduction to 3.25%.
Brokers said a small rate reduction could “stimulate buyer confidence and affordability, supporting a smoother recovery in housing transactions after months of subdued activity”.
The Bank of England is due to make its next base rate decision on 6 November.
Chris Pearson, head of intermediary mortgages at HSBC UK, said: “Brokers are the beating heart of the mortgage market and are clearly signalling that a modest base rate cut, combined with ongoing innovation and stamp duty reform, would help put the housing market on firmer footing.”
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The survey also found that brokers supported Project 28, which aims to make the mortgage process faster, simpler and more innovative, and they also supported stamp duty reform.
“Project 28 is central to ensuring that our broker partners and their clients experience faster decisions, better tools and greater certainty in what remains a challenging environment, and with momentum, could be a real game-changer.
“It takes far too long to buy a property at the moment. HSBC UK is fully behind this initiative, but we need everyone to lean in over the next few years to make the aims of Project 28 a reality,” Pearson added.
