Alliance & Leicester mortgages boss comments on rate

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Alliance & Leicester mortgages boss comments on rate

The monetary policy committee's (MPC) decision to maintain the base rate at 4.5 per cent has been hailed as "widely anticipated" by an Alliance & Leicester mortgages boss.

Commenting on yesterday's MPC announcement, Mehrdad Yousefi, head of intermediary mortgages, said that the rate had been anticipated to remain unchanged this month.

He added that housing market activity remained stable and that swap rates have remained "in a tight range" in the last few weeks.

"There has been evidence of mortgage lending volumes increasing at the end of last year and commentators predict that the housing market will continue to remain broadly stable in 2006, with house prices rising modestly throughout the year," he said.

Alliance & Leicester mortgages on offer in the new year include a two-year fixed rate product at an initial rate of 4.59 per cent.

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