Wednesday, July 9, 2008

The cost of taking out a new two-year fixed rate mortgage has risen to the highest level in more than eight years

UK mortgage rate soars to eight-year high

New data revealed that between May and June the cost of two-year fixed-rate mortgage, for borrowers with 25 per cent-worth of equity, rose by 37 basis points to 6.63 per cent. The last time rates hit these heights was in February 2000.

Posted by eagle @ 01:18 PM (493 views)
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One thought on “The cost of taking out a new two-year fixed rate mortgage has risen to the highest level in more than eight years

  • George Buckley, chief UK economist at Deutsche Bank, said: “There is bound to be a knock-on effect on house prices.”

    No sh!t Sherlock!

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