You are here: Home - News -

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

by:
  • 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.

moneyfacts-2yr-fixes-181217

 

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’...

Close