delusionofgrandeur

Halifax’s Standard Variable Mortgage (SVR) interest rate now stands at 7.1%

The Halifax rate is often quoted as a benchmark for the UK and this now illustrates the widening disjunction between mortgage interest rates and the Bank of England base rate at 5%

Fixed rate mortgages are now averaging 6.75% for a 2 year fix and 6.72% for a five year fix. To my mind this indicates that the banks are not projecting much easing in the medium/long term either.

In the mean time, Halifax’s regular saver rate hit 10% for 12 months.

Unfortunately, it is rather hard to track SVR historically for individual banks. If anyone has historic data series for any bank’s rates, please let me know on the comments form below.

This entry was posted on Thursday, June 26th, 2008 at 1:38 pm and is filed under Credit Crunch, Economy, Fantasy House Prices, News.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.