Average fixed interest rates are stable despite lenders moving: Monetary Facts – Mortgage Strategy
The two-year, three-year and five-year fixes this week have no action on average mortgage rates this week as lenders repositioned their transactions up and down sales volumes cancelled each other.
MoneyFacts’ weekly exchange rate viewing data shows that the average two-year fixed interest rate is 4.98%, three-year fixed interest rate is 4.87%, and five-year fixed interest rate is 5.02%, which is not changed from a week ago.
According to MoneyFacts, some loans to value level fluctuate slightly, but the overall average of all LTVs remains stable.
The only substantial decline was 11 basis points in the average three-year fixed for 100% LTV, from 4.55% to 4.44%, but since this is a niche product type, this could be the result of a single lender making a change.
The next most important change is the five-year fixed volume of LTV on average, down 4bps to 5.04%, but the three-year fixed rate on the same LTV layer dropped to 3bps to 5.05%.
The only other moves are up or down 1 or 2bps.
“There are fixed interest rates cuts and increases for various lenders this week,” said Rachel Springall, a financial expert at MoneyFactsCompare.co.uk.
“The famous brands that adjusted the selected fixed prices this week include Santanders cutting up to 19bps, up to 10bps, up to 15bps, up to 10bps, up to 10bps, up to 34bps, Virgin Money with a maximum of 34bps, NatWest cut 20bps, up to 20bps, down to 20bps, down to 11bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to 14bps, up to
“This week, Nottingham Architectural Association conducted a speed in the Architectural Association, up to 23bps, and the Principality Architectural Association cuts up to 8bps and increases up to 11bps.
“In contrast, the leek construction society has increased by up to 5bps.
“Don’t miss notice that mortgages increased by 30bps in April, MPOSERTOPAGE’s mortgage increased by 13bps, intermediary cooperative banks increased by up to 14bps, H-gen H speeds reached up to 12bps, and 10bps.
“One attractive deal worth mentioning this week is Barclays’ two-year fixed-rate mortgage with a price of 4.85% and a 95% loan for first-time buyers.
“It includes free valuations and no product fees.”
Springall added: “In a somewhat exhausting week in the mortgage market, it is clear from the latest exchange rate moves that lenders keep their range fresh by repositioning, but have not really cut the tax rate significantly.
“Overall, lenders seem to be engaging in caution to not raise their profit margins too far, which is expected when the swap rate hovers around 30 days.”
