Mortgage interest rates at record lows

February 6, 2015 by in category Mortgage News with 0 and 0

Due to a variety of funding sources which have enabled lenders to raise capital at “exceptionally low cost”. fixed-rates and tracker mortgages are at record lows, the Council of Mortgage Lenders said,

In it’s latest news and views publication, the industry body pointed out that its regulated mortgage survey revealed that last November for the first time the average new tracker mortgage rate fell to 1.96 per cent. This is first time that it has ever fallen below two per cent.

There is a similar story to be told when it comes to fixed rates where some lenders are charging the cheapest mortgage rates ever seen on the market.

The reason behind the low rates is low cost funding that the lenders are currently enjoying that they are able to pass on to the borrowers.

The Council are suggesting that given the current economic outlook the current period of low rates should continue.

 

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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