Tracker rates fall further

Average tracker rates are now at the lowest level since March, research from comparison site Moneysupermarket has revealed.

Louise Cuming, head of mortgages at moneysupermarket.com, said: “In the current environment of uncertainty, it’s natural to look to fixed-rate deals to provide security but our data clearly shows that it’s imperative to look at the whole product range when looking for a new deal. This is especially so if you can stomach a little leeway on payments.

“Trackers have been avoided like the plague in recent months due to interest rates looking unstable yet all the signs are that rates will be kept on hold for the time being, with the next movement potentially being a reduction. Some are even predicting rates will go as low as 4% by the end of the year to kickstart the economy, in which case trackers could be a lifeline.”

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