Two of Britain’s biggest mortgage lenders will cut rates again on Friday, after a slew of reductions over the past two weeks.
“With thousands of homeowners due to come out of their fixed rates over the summer as their ultra-low five-year rates secured in 2019 end this will bring some relief to those stressed about how they were going to manage the increase,” he said.that lenders were trying to make up for “lost time” after a reduction in housing market activity during the early stages of the general election campaigning.
Mortgage rates have stayed higher throughout 2024 than many experts initially predicted, with this being because interest rates have not yet fallen, despite expectation at the start of the year that they would have done so by this point in the year. “Those lenders who haven’t yet repriced are likely to follow suit, as long as service levels allow. Even though Swap rates, which underpin the pricing of fixed-rate mortgages, are not showing a consistent downwards trend, the need to generate more business seems to be motivating lenders to tweak their rates,” he said.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: i newspaper - 🏆 8. / 89 Read more »
Source: i newspaper - 🏆 8. / 89 Read more »