Tracker mortgage rates fall to all-time low | This is Money
Rates on tracker mortgages have fallen to a record low but the cost of fixed rate deals has risen to its highest level for nearly a year as a base rate hike looks imminent, research showed today.
The average cost of a two-year tracker mortgage has dropped to 3.40%, the lowest level since financial information group Moneyfacts.co.uk first started monitoring figures in 1988.
The group said around 10 lenders had slashed the interest they charged on the deals during the past month, including a number of big players such as Santander, Nationwide, Barclays mortgage arm the Woolwich and nationalised bank Northern Rock.
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