Average mortgage interest rates are the highest they have been since the 2008 financial crisis, data suggests.
The average interest rate on a five-year fixed rate mortgage has risen to 6.36%, Moneyfacts said, the highest since November 2008. At least 100,000 people per month are coming to the end of their current mortgage deal, and face steep rises in monthly repayments. As well as cutting the number of mortgages available, lenders have also been increasing mortgage rates.Brokers have said there is still demand for mortgages but lenders are wary of being swamped with applications while uncertainty in the economy remains.Eleanor Williams, finance expert at Moneyfacts.co.uk, said the mortgage sector "remains volatile".
So have a tracker until rates subside … stop peddling this doom and gloom. 🤷♂️🙄
Oh great. Thanks for absolutely nothing trussliz
Once the war is over.....ToryLies
Cost of living crisis for so many.
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Two-year mortgage rates hit fresh 14-year highThe average two-year fixed rate deal has risen above 6.5%, the highest since the 2008 financial crisis. Don't worry Truss said she is sorry for that Have you noticed how the racist scumbbc always have black people in their headlines. RACISTS. People should remember that pre 2008 the average interest rate over 50 years was c5%. Rishi had it right in the leadership contest, history (including Thatcher ERG members) had to increase taxes initially to get inflation down and stability in the economy before tax cuts.
Source: BBCLondonNews - 🏆 115. / 51 Read more »
Two-year mortgage rates hit fresh 14-year highThe average two-year fixed rate deal has risen above 6.5%, the highest since the 2008 financial crisis. Don't worry Truss said she is sorry for that Have you noticed how the racist scumbbc always have black people in their headlines. RACISTS. People should remember that pre 2008 the average interest rate over 50 years was c5%. Rishi had it right in the leadership contest, history (including Thatcher ERG members) had to increase taxes initially to get inflation down and stability in the economy before tax cuts.
Source: BBCLondonNews - 🏆 115. / 51 Read more »