If you can, just hold off arranging a mortgage for a few weeks. Cheaper mortgages are on the way!
If you want to start off 2006 with a new mortgage, hold fire for a few
- Mortgages. Encouraging stronger personal economic growth
- You have to shop around for a good internet rate whether it be fixed or adjustable (variable).
- Mortgages. Regulations tighten on interest only mortgages.
- Interest only mortgages have been very popular, especially amongst first time buyers. But the FSA has now introduced restrictions. This article explains.
- Mortgages and Loans. Islamic finance avoids interest.
- Muslims are forbidden by the teachings of the Koran to pay interest. This means that conventional mortgages and loans cannot be used. This article explains the alternatives available for Muslims and defines some of the words used in Islamic finance.
- House price rises – a cautionary tale
- The housing market seems to be buoyant with house sales exceeding expectations in some parts of the country. If mortgage rates start to rise, the market may see a correction. Take care not to take on too much debt.
- HIP's – the full story
- Ready, steady, go! With just three months to sell your home using the forthcoming and compulsory information pack, you need to get your act together. Here we face the facts.
The cost of fixed rate remortgages is especially likely to fall. That's because the mortgage lenders price their fixed rate mortgages according to the money market's “swap interest rates”. These interest rates reflect how the money market expects rates to move in the future and they're on their way down.
Two year swap rates peaked at the end of December at 4.75% and in the past few weeks have fallen to the 4.5% - 4.4% range. That means mortgage lenders can afford to trim their rates and with so much competition in the mortgage market, cheaper deals are certain to follow. Great news if you want a mortgage and are prepared to fix your payments.