Paragon Mortgages reveals drop in fixed-rate popularity
www.moneynews.co.uk > Mortgages > Paragon Mortgages reveals drop in fixed-rate popularity
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Money News |
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Paragon Mortgages reveals drop in fixed-rate popularity
Thu 14th Jan 2010
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Its Financial Adviser Confidence Tracking Index showed fixed-rate products accounted for 46 per cent of deals introduced by brokers in the three-month period, down from 62 per cent in Q3.
At the same time, cases involving base rate tracker mortgages increased from 33 per cent to 45 per cent.
Paragon suggested that the movements came about because the "threat of an increase in base rates eased", as the Bank of England's Monetary Policy Committee (MPC) continued to hold its benchmark figure at 0.5 per cent and experts predicted it would remain at that level for large parts of 2010.
Responding to the latest MPC announcement last week, chief economist at the Royal Institution of Chartered Surveyors Simon Rubinsohn said "it is expected that the base rate is likely to be left on hold until the very tail end of this year".
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