Fixed rate mortgages have become increasingly popular with the number of mortgages taken out at fixe...
Fixed rate mortgages have become increasingly popular with the number of mortgages taken out at fixed rate rising to 50% in May, the Council of Mortgage Lenders says. According to figures released today by the CML, this is the highest level since the end of 1998. It is also an increase of 10% compared to April. Reflecting borrowers' demand for competitive rates, fixed rate mortgages have become the number one choice, the CML says. This comes as the average new fixed interest rates dropped from 4.52% in April to 4.21% in May. Meanwhile, gross mortgage len...
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