Swap rates nudge up

meanmachine_2

Looks like 2-5 yr fixes could be going up a bit more in the next few weeks:

http://www.clpuk.com/

At least, I think that's what the graph means...

mummytwinton

don't understand it but doesn it mean they are on the way up for a while or up for now & down again by the end of the year??

meanmachine_2

I think it means that's the rate that banks are borrowing money this week.

The higher the rate across the curve, week on week, the higher fixed rate mortgages become.

It's not a prediction of the next 30 years - it's what money costs to borrow across that length of bond, or something...

ManAtHome

The thing to watch is the difference between last week (red line) and this week, shows it's gone up around 0.02% for the medium term (I think...).

MortgageMamma

Halifax has pulled a lot of deals today which will undoubtedly be replaced by higher rates. First Active, RBOS and C & G are the only lenders I can find hanging in under 4.50%

TangentMan

Swap Rates are a continually variable market. It is not something that can be predicted from a graph.

If you are interested in a fix rate mortgage, there is never a best time - there is only the current time.

meanmachine_2

A few lenders' 2 yr fixes have jumped this week.

A&L from 4.69 to 4.84
And Halifax from, I think, 4.69 to 4.99!!

I find it funny that in June of last year when the market was doing badly you could have borrowed at 4.19% via A&L. SIice then the base rate has actually fallen, their 2yr fix has jumped, and the housing market has accelerated too!

What a crazy world.