Mortgage rates halved in the last decade

Mortgage rates halved in the last decade

Mortgage rates halved in the last decade: compare the cheapest fixed-rate mortgage deals

Although mortgages are slowly getting more expensive, the average rates on offer today are around half the level of those seen a decade ago. Research from Moneyfacts, the data provider, shows that the average two-year fixed-rate mortgage has fallen from 4.79pc in March 2009 to 2.49pc today. Longer deals have also seen a similar fall. The average five-year fixed-rate mortgage on the market has dropped from 5.62pc a decade ago to 2.89pc. With rates still at historically low levels, homeowners could save thousands of pounds.

Source – The Telegraph)