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Swap rates rocket up

Swap rates have increased by around 20 ticks over the course of the day with a broker warning this may see lenders pulling their fixed rates by the end of today.

The Mortgage Practitioner sole trader Danny Lovey says: “Swap rates have increased by 20 ticks today. This means we’re going to have a flood of emails b before the end of the day otherwise lenders will get stuffed over the weekend.”

Lovey points out that swap rates already moved up 10 ticks yesterday.

2 year swap rates now stand at 5.37 to 5.41; 3 years is at 5.3075 to 5.3475 while 5 years is at 5.2775 to 5.3275.



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