Mortgage deals are likely to get cheaper - Mortgages, Money - The Independent
People planning to remortgage or fund a house purchase may find that the deals on offer get cheaper over the coming weeks and months, mortgage industry insiders have said.
The release of the minutes of the April meeting of the Bank of England's Monetary Policy Committee last week has quashed rumours of an imminent rise in base rate. This led to lenders including the Woolwich, Skipton and the Halifax cutting some fixed-rate mortgage deals.
"What is happening is that the money markets priced a more immediate Bank rate rise into the cost of mortgages. Now it seems that this may not take place until August or even next year. This is starting to feed through to rates," said Brian Murphy, the director of the Mortgage Advice Bureau.
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