Author Topic: UK: Average two-year fixed-rate mortgage hits 6% for first time since 2008  (Read 616 times)

rcjordan

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TWO-YEAR isn't 'fixed' ! ! !  I assume Brits without frontal lobes signed up for these for low monthly payments?  Or, are longer term fixed mortgages not available?  15- & 30-year fixed are the common ones offered in the US.

https://www.independent.co.uk/money/average-twoyear-fixedrate-mortgage-hits-6-for-first-time-since-2008-b2196146.html

BoL

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Nice overview here but misses the craziness that's happened the past few weeks or so https://www.statista.com/statistics/386301/uk-average-mortgage-interest-rates/

I was due for renewal, Had a 3.5% 5 yr fixed offered by existing lender, 2 weeks later it was 4%, now the offer is 4.5% - in the space of 3 weeks. There are 10 yr and greater ones available in the 4% range.


« Last Edit: October 06, 2022, 03:45:36 PM by BoL »

Rumbas

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Jumped on a 30 year, 0.5% fixed rate last year. Pretty happy with that.
Here the 6% fixed 30 year has just opened.