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Average fixes were lower this week as lenders continued to cut rates to attract new customers, according to Moneyfacts data. The average rate for two-year and five-year fixes fell by 8 basis points to 6.48% and 5.98%, respectively. However, the average rate for a three-year fix edged a single basis point lower
The fixed rate mortgage market saw rate cuts outweigh rises this week. As Moneyfacts finance expert Rachel Springall explains many lenders reviewed selected ranges, some citing fluctuating swaps as a reason to amend their pricing. These movements led to a fall in the overall average two- and five-year fixed mortgage
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Fixed rate reductions far outweighed the number of lenders increasing rates this week, according to the latest data from Moneyfacts. The latest figures show a fall overall to the average two- and five-year fixed mortgage rates. Moneyfacts finance expert Rachel Springall points out that several lenders reduced