Across all deposit sizes, the average five-year fixed-rate homeowner mortgage is 6.03%, edging down from 6.04% on Tuesday, Moneyfacts said.
The average five-year fixed-rate homeowner mortgage is edging closer to falling back below the 6% mark, according to figures from a financial information website.
Some major mortgage lenders have been cutting rates this week, with the Bank of England base rate being left unchanged at 5.25% last Thursday.On Wednesday, HSBC UK reduced a selection of mortgage rates by up to 0.16 percentage points. The spokesperson added: “There are a number of factors taken into account when we set rates, including swap rates and market conditions.”The new deals include a five-year fixed rate at 4.95% with a £999 product fee for people with a 40% deposit, down from 5.10% previously.
“The important takeaway from last week for those looking to take out a mortgage soon is that the expectation that the base rate has now peaked is now the predominant view of the market, although there is still a sizeable but decreasing risk that we may see one more increase this winter.
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