You are here: Home - News -

Two-year fixed mortgage rates held down by competition – Moneyfacts

  • 18/12/2017
  • 0
Two-year fixed mortgage rates held down by competition – Moneyfacts
The average rate of a two-year fixed mortgage is back to where it was a year ago.

According to Moneyfacts, the average two-year fixed-rate mortgage today stands at 2.36%, so flat against the 2.35% in December 2016.

Rates fell noticeably throughout the year, bottoming-out at an average of 2.17% on 25 September.

But despite picking-up during the last couple of months, especially after November’s 0.25% increase to the Bank of England Base Rate, the average is still only 0.18% higher.

This suggests some lenders have either chosen not to price in the full extent of the rate rise, or are keeping rates low in the search for market share – as witnessed by several lenders offering special deals to end the year.

The graph below from Moneyfacts highlights how low rates continue against average levels three or four years ago.



There are 0 Comment(s)

Comments are closed.

You may also be interested in

Read previous post:
Eddie Goldsmith, chairman of the Conveyancing Association
Land Registry’s proposed digital platform cuts out mortgage advice

In a bid to speed up the UK home buying process, HM Land Registry (HMLR) has proposed an ‘Instant Mortgage’...