Mortgage rates have hit rock bottom and can only go up,
the Council of Mortgage Lenders has warned. Households are currently benefiting
from the cheapest home loans on record after a fierce mortgage price war
between lenders. This has caused a surge in remortgaging as families across the
country rushed to snap up cheaper deals. It has also helped more first-time
buyers get on the property market. These two groups have driven the housing
market as a slowdown in house price rises, and falls in parts of the country,
have made existing homeowners reluctant to sell. But the CML suggested the era
of record low mortgages may be coming to an end. Read more on the Daily Mail
website.
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