Economists issue further warnings of mortgage rate hikes.
According to economists, fixed mortgage rates may soon start to climb market-wide due to the recent increase in gilt yields.
Gilt yields and the price of swap rates are closely linked, and swap rates are used by lenders to determine the price of fixed rate mortgage deals.
An increase in swaps has already led to some lenders increasing their mortgage rates. Just a week ago the Yorkshire BS increased its lowest rate 5 year fixes to cover rising costs.
Mortgage rates are set at the lowest they have been in a decade, and while it may be tempting to hold off fixing a deal to see if they will go lower, this strategy could prove costly.
Risking rising rates makes no sense if you can lock into a cheap deal now, market experts believe rates have bottomed out and market-wide increases are only a matter of time.
If you want to review the market to see what rate you could fix to over 2 to 10 years, seek expert advice and an independent and impartial 'whole of market' mortgage search.
To review what mortgage rates are on offer for your deposit level, and to find the most competitive offer to match your financial circumstances call a Deal Direct adviser.
Call Deal Direct on 0800 048 8828 today and let us beat your current offer, we can help you find a cheap deal to switch to while historically low rates remain on available.
For advice and a low rate mortgage,
call 0800 048 8828.
