Wednesday, May 20, 2009
Affordability Salami Slicing
FT: Fixed mortgage rates start to rise
The cost of the average fixed-rate mortgage has risen in the past month even though base interest rates have been held at historic low levels.Research from Moneyfacts.co.uk shows that the average two-year fixed rate has risen from 4.61 per cent to 4.64 per cent, while the cost of five and ten-year fixed deals have increased by a greater margin.
In the past few weeks Halifax, Royal Bank of Scotland and Woolwich, and a number of building societies including Britannia, Coventry, Yorkshire and Barnsley, have increased rates.
Borrowers hoping to take advantage of this period of low interest rates and lock into a long-term fixed are going to be disappointed.
Posted by live4ever @ 03:37 PM (154 views) Add Comment
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