Nationwide raising fixed rate mortgage rates
Published: 12 June 2009 By MoneyhighStreet Staff Leave a Comment
Nationwide is raising its fixed rate mortgage rates by up to 0.86% from today.
This rise even includes some of the mortgages only launched by Nationwide earlier this week.
As we reported then there was much speculation that mortgage rates would rise as a result of an increase in swap rates.
Swaps are used by lenders to fund fixed rate mortgages.
Two year swap rates have increased, and so too have 3 year and 5 year rates.
As a result, for Nationwide it means that new customers taking out a 5 year fixed rate mortgage with 60% LTV, the rate goes up today by 0.86% to 5.84%.
No doubt this raising of mortgage rates by Nationwide will be followed by other mortgage lenders.
Perhaps it is time to secure that fixed rate mortgage deal?