Fixed rates peak in June
Bank of England figures show that the cost of fixed rate mortgages peaked in June before reducing in July.
The figures show that the average rate for a borrower with a 25% deposit was 6.6% in June, up from 6.26% in May. This was the highest average rate for fixed rates since February 2000.
However, lenders are bringing their rates down, albeit by small amounts. Nationwide, Halifax, Abbey and other providers have all cut their rates in recent weeks. The average two-year fix, with a 25% deposit, is now around 6.5% - up from 5.74% in February.
- Economy slows further
- HIP laws being broken
- Intermediaries are realistic not disheartened
- Northern Rock announces huge losses
- Swiss Re buys Barclays Life
- Commercial lending weakens
- Logic 100 joins AIFA
- Most riding out the credit crunch
- Promise No Sale No Fee HIP boost
- MI roadshows highlight broker strength
- Sale and rent back consultation
- L&E complete conveyancing
- Complete retained by Platform
- NU relaunches equity release
- Consumer confidence continues to fall
- Stamp Duty speculation means fewer sales
- Reduction in rates is vital
- RBS & NatWest cut fixed and tracker rates






