Average Mortgage Shelf-life Plummets - Mortgage Deals Available For An Average Of Just 15 Days.

16th March 2024

The average shelf-life of a mortgage product plunged from 28 days at the start of February to a six-month low of 15 days at the start of March, according to Moneyfacts data. This means borrowers should act swiftly if they don't want to risk missing out on a potentially attractive deal.

Meanwhile, average two- and five-year fixed mortgage rates have seen a month-on-month increase to 5.76% and 5.34% respectively. "Lenders reacted to the change in swap rates, leading to numerous repricing of fixed rate deals," explained Rachel Springall, Finance Expert at Moneyfacts. However, she pointed out that, despite this rise, "fixed rates remain lower than at the start of 2024".

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