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Fixied mortgages about to get A LOT dearer
meanmachine_2
Posts: 2,624 Forumite
http://www.swap-rates.com/UKSwap_extended.html
Re-mortgagers had better get moving.
FTBers - hold your horses.
Re-mortgagers had better get moving.
FTBers - hold your horses.
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Comments
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oh poo, i've got a 180k mortgage to remortgage soon0
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Can you explain this to us please? The graph didn't mean much to me!0
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Swap rates determine the cost of fixed rate mortgages.
Libor determines tracker rates.
If swap rates go up, money becomes more expensive for banks to source and fixed mortgages go up.
This is likely to be reflected in high street mortgage rates in the next few weeks.0 -
Swap rates are the rate that banks lend to each other.
The cheaper that banks can borrow from each other, the cheaper deals they tend to offer.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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