Average mortgage rates at lowest in over six months [UK]
This follows these rates falling for the fifth consecutive month.
Average mortgage rates continued their downward trajectory at the start of January, falling for the fifth consecutive month, according to Moneyfacts’ data. With the average rate for a two year fixed rate mortgage sitting at 5.93% on a first-of-month basis, and the average five-year deal at 5.55%, these rates are at their lowest in over six months.
This will come as a “great relief for borrowers looking to refinance this year”, said Rachel Springall, Finance Expert at Moneyfactscompare.co.uk. However, Springall reiterated there are ‘big expectations’ for rates to continue falling in the coming weeks. Borrowers looking for a new deal, or those looking to get on the housing ladder, should regularly review lowest rates
Pricing doesn't mean that this is cost of funds or that they hedge.
The Irish Banks used to bs about 'hedging' (a bit like the energy companies) and it transpired that the hedges were internal between Treasury and Retail - great.