Fixed Mortgage rates set to thrust lower

fixed-rate-mortgageThe cost of fixed rate mortgages is set to drop as lenders rush to meet 2015 lending targets. Experts predict that lenders will cut rates even lower as “race to bottom” begins. As mortgage approvals have increased to their highest level for years, borrowers are looking forward to interest rate rises in 2016. As the risk of coming up base rate hike, last month few lenders launched new deals starting out a new price war which could drive rates to even lower levels. And also the cost of fixed rates for residential mortgages will tumble in the final months of this year. There is no doubt that lenders will certainly launch some very attractive fixed rate mortgages to meet the lending targets which is good news home buyers. It is also said that low mortgage rates will continue into next year as lenders will continue to compete for business.

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