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Fixed rate prices starting to tumble, says Moneyfacts

Moneyfacts says fixed rate prices are starting to fall following the dramatic rises that followed January’s base rate rise.

Moneyfacts mortgage analyst Denise Blake says: “Following the shock base rate rise in January, fixed rate mortgages flew off the shelves as consumers rushed to get their hands on existing fixed rate deals before they were pulled. But with base rate remaining unchanged now for the last two months, some level of stability has returned.

“With swap rates starting to fall back, Moneyfacts has seen eight lenders reduce their fixed rate mortgages over the last 10 days, some by as much as 0.40 per cent.”

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