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Interest rate

If you've a mortgage that's due to renew in 2017, your biggest financial risk may well be that rates will rise rapidly. They've been at historic lows and we've got used to that. Yet some of the cheapest deals, such as HSBC's 0.99% 2yr fix, have been axed this month. And the City's swap rates, one of the factors banks use to decide their fixed rates, have risen - eg, 5yr swaps are up from 0.35% in September to 0.87% now. This has all fuelled fears of further mortgage hikes.
21 December 2016
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