Trackers may still offer the best mortgage rates.
Some of the best mortgage rates currently available may be tracker products. Rates that track the BoE base rate are very competitive, but how much longer will this last?
It was recently reported that the IMF suggested the Bank of England could cut interest rates further whilst accelerating what is termed as quantitative easing. The case for quantitative easing, the 'printing' of electronic money, was encouraged by a reported reduction in inflation by half a per cent to 3%, last month.
If the Bank of England does cut interest rates further in the future, those who have secured a competitive base rate tracker would see their rates reduce, to what could the best mortgage rates we have seen so far.
If you would like to compare your present mortgage with current tracker rates call Deal Direct.
The advantage of tracker products is clear while the base rate remains low, and some economists predict that low rates will now remain until as far into the future as 2016.
However tracker products do not suit everyone and for those who prefer the security of a fixed rate there are many alternative products on offer in the market.
Whether you want the security of a fixed rate or to take advantage of the low base rate, Deal Direct can help you source the best mortgage rates on offer.
Contact one of our skilled advisers now for a market comparison.
