Mortgage borrowers continue to prefer the certainty of fixed mortgage rates.
The data does show a slight retreat from fixed mortgages, down from a peak of 95.5% in September 2022.
These high proportions are quite different from the pre-Global Financial Crisis when a much lower proportion of lending was on fixed rates.
Earlier this week, Barclays Bank cut several of its key mortgage rates, acting ahead of the forecast Bank of England rate cut in August. Source: Dataloft by PriceHubble, Financial Conduct Authority. June 2024
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