Good News Hidden by Media Negativity

I can almost copy the start of last month’s AAH column: ‘Despite the Bank of England Base Rate increasing again, the markets have reacted pretty well. A number of lenders reduced rates towards the end of the month and others are predicted to do so again this month, especially to attract new business.’

This is still so true and we have seen lenders once again reduce rates recently, even though the bank base increased to 4.25%. This is mainly because the SWAP rates (the amount lenders pay to financial institutions in order to acquire fixed rate monies for a specific period of time), have steadily decreased over the last few weeks. This is great news and unlike the recent rate rises, is not getting the media attention headlines it deserves.