Euro base rate increases by .25% to stand at 4.5%.
Higher interest rates are reducing demand and driving economic activity down, but inflation is still a big concern.The inflation rate is still too high and a long way off the desired level of 2%.
Mortgage rates continue to creep up with most rates at 4% or more. Green mortgage rates are the lowest in the market and we can arrange 4 year fixed rates at 3.65%. Our Haven Mortgage green rate is especially attractive for first time buyers both in terms of the actual rate and the comfort in knowing that it is also available to existing customers.
To hedge against rising rates in the short and long term, there are reasonably attractive rates from 3.95%, fixed for terms ranging from 5 years to 30 years.
House prices are falling very slowly as economic activity weakens and rates rise. However sellers are getting more realistic and we have noticed a significant increase in sale agreed positions.
The longer term fixed rates - 10 years plus at 3.95% merit serious attention both for home buyers and switchers.