Interest rate speculation increases variable rate popularity

Spicerhaart’s monthly survey also found a large drop in the number of consumers using non-conforming products. The survey claims the proportion of customers turning to variable mortgages last month rose to 21%, from 19% in August. Tracker mortgages have proved particularly popular with 13% more customers taking out tracker deals compared with September 2006, putting the total proportion of Trackers at 19%. Spicerhaart also claim short-term fixed rate products are becoming less popular, although fixed rates still dominate the market, accounting for 79% of all mortgages. Steve Cox, operat...