The Telegraph - Homeowners gambling on variable rate mortgage deals
Borrowers are betting that interest rates will not rise as much as expected, with home buyers turning to variable-rate mortgages in an attempt to reduce their monthly repayments.
A rising number of borrowers are taking a gamble by shunning fixed-rate deals, Aaron Strutt, of the financial advice firm Trinity Financial, said.
“Variable deals are the cheapest on the market at the moment,” he said. “The market expects interest rates will rise much further so we are now stuck with fixed mortgages as high as 6pc.”
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