Fixed rate mortgages are beginning to get cheaper once more proceeding six months of increases, according to Moneyfacts.co.uk.
After the January shock base rate increase, fixed rate mortgages got really high as consumers wanted to get on existing fixed rate deals prior to them being pulled.
As the base rate has remained the same during the last two months, some stability has returned. Swap rates that banks use to fix fixed rate costs are decreasing.
Moneyfacts.co.uk highlights that 8 mortgage lenders have rendered their fixed rate mortgages 0.4% cheaper in the past ten days.
Should there be any more increases in mortgage payments, it will drive many to get fixed rate mortgage deals.
Such low rates are good news for those keen to fix their mortgage and those coming off a very low fixed rate, whilst looking for a new deal.
A good fixed rate deal costs about 5.25% compared to Moneyfacts best buy discounted mortgage rate of 4.73%.
It will be interesting to see how long this downward trend is going to last.
 |
| Property Guides |
Buying property |
| Find Property in the UK |
| My estateagents | |||||
|
Fixed Rate Mortgages Getting Cheaper
Thu, 15 Mar 2007
Recommended links
Nearly 10 per cent of Mortgages Buy to LetIncrease in Uptake of Fixed Rate Mortgages
Group Mortgages Popular with First Time Buyers
First Time Buyers Paying More For Mortgages
Apply for A Fixed Rate Mortgage
| Bookmark: |  |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
| Estate Agents news |
|---|
| Empty Home Numbers Down in England - Wed, 05 Dec 2007 |
| Buying Supercedes Renting to the Tune of 5,000 GBP - Wed, 21 Nov 2007 |
| Surveyors begin to see house prices fall in England and Wales - Wed, 14 Nov 2007 |
| More News |
