Wednesday, June 25, 2008
Rates rise to more normal levels
''...The average rate on a two-year fixed loan has jumped above seven per cent for the first time in more than a decade, it was revealed today. The devastating research, from the financial information firm Moneyfacts, highlights the nightmare facing homeowners who need to remortgage this year. Lenders are charging crippling rates of interest, piling pressure onto cash-strapped families already struggling with record household bills...''