Has the bubble burst?

thelastsuspect1962

Have fixed rate savings accounts peaked now?
Last week you could get a two year fix with Kent Reliance @4.65% this week the rate is @3.6%

wmb194

thelastsuspect1962 said:

Have fixed rate savings accounts peaked now?
Last week you could get a two year fix with Kent Reliance @4.65% this week the rate is @3.6%

Could be, for now anyway. Gilts have come in a long way from where they were at the height of the Trussenomics panic and in recent days other posters have said that interest swap rates - a key factor in determining mortgage rates and concomitantly deposit rates - have followed.

https://www.bloomberg.com/markets/rates-bonds/government-bonds/uk

Millyonare

It is still possible today to get 5.25% on a 1-year regular saver (with Lloyds), and 5.00% to 5.12% on easy-access, 2-, 3-, 4- and 5-year fixed bonds. But how long they stay available for remains to be seen.

dunstonh

The "alternative" fund methods for fixed term deposits have all fallen back recently.  So, it is logical the product terms would follow.

Albermarle

thelastsuspect1962 said:

Have fixed rate savings accounts peaked now?
Last week you could get a two year fix with Kent Reliance @4.65% this week the rate is @3.6%

Individual providers can often find themselves with enough funds and so reduce rates. 
You can still get 4.8% to 5% for a two year fix with quite a few providers.

Best 2 Year Fixed Rate Bonds up to 5% Fixed | moneyfacts.co.uk