Although interest rates are at their highest level for almost two decades, mortgage experts believe now is a good time for homeowners and home buyers to lock into a fixed-rate loan.
They argue that despite rates in the wider economy rising to 4.25 per cent, mortgage prices have been steadily falling in recent months, making some fixed-rate deals extremely competitive.
In the wake of Kwasi Kwarteng’s disastrous Budget last autumn – causing mayhem on the stock market and gilt prices to collapse – the average five-year fixed-rate home loan was 7.6 per cent.
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