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Fixed-rates “still” popular

June 20, 2008 by admin  
Filed under News, News-Mortgages

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New research has revealed that fixed-rate mortgages continue to be popular among homebuyers even though they have become more expensive in recent months.

According to Legal & General’s report from the “Mortgage Purchase Index” series, the average two-year fixed-rate deal has risen 64 percentage points over the last six months.

Stephen Smith, director of housing at Legal & General, commented: “The price of fixed-rates and petrol keeps going up and up, yet consumer appetite for both shows no sign of abating.

“There has been a huge jump in the number of homeowners opting for .”

Mr Smith said this indicates homebuyers prefer to be certain of the rate they will be paying in the future rather than having a deal with cheaper initial payments.

In related news, Defaqto.com has reported that since mortgages are becoming more expensive, the most attractive deals are being snapped up quickly and consumers need to act fast if they want to get a deal they have has their eye on.

Tags: fixed rate mortgages, purchase, personal finance, future, Homebuyers

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