Property News · June 20, 2016

Potential Brexit vote sees mortgage rates drop


Investors leaving riskier shares for government bonds have caused mortgage rates on five- and 10-year deals to decreaseThe cost of taking out a fixed-rate mortgage over five or 10 years has fallen to a record low, in a surprise side-effect caused by money markets reacting to a possible Brexit.Exclusive figures prepared for the Guardian by financial firm Moneyfacts show the average interest rate on a five-year fixed-rate deal has fallen to 3.16%, down from 3.18% a month ago and 3.34% in June 2015. Meanwhile, the average cost of fixing for 10 years is 3.46%, down from 3.49% last month and 3.7% a year ago. Continue reading…

Source : theguardian.com
Read more…Potential Brexit vote sees mortgage rates drop

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