Monday, Jun 16, 2008
The Bank of England could be forced to raise interest rates this year as part of its battle against inflation
Citywire: Rising swap rates drive fixed mortgages higher
Soaring swap rates are pushing the cost of fixed-rate mortgages through the roof but they may be the only option for borrowers who cannot afford the risk of a Bank of England interest rate hike to control inflation. Figures from the Bank of England suggest the average cost of fixed-rate mortgages are at an eight-year high, averaging 6.92%. But historically, fixed-rates are low; the Bank of England’s average fixed-rate mortgage spiked to around 7.55% in 1998.
Posted by jack c @ 03:42 PM (206 views) Add Comment
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