Fixed-rate mortgages reach record level in June

This figure compares to 89% taking out fixed rate loans in May and 83% in June last year. A record 76% of home movers also took out fixed-rate loans in June up from 75% in May and 63% in the same month last year. The fact that buyers are showing a stronger preference for fixed-rate mortgages is encouraging as it will protect them against further interest rate rises during the period for which their loan is fixed and will give them confidence in their monthly mortgage payments, the CML says. The number of loans to first time buyers dropped to 35,600 in June from 39,800 in the same mont...