In this article, we break down what the current average mortgage rates are in the UK and explain what's happening in the mortgage market.
With interest rates beginning to climb again, however, others might be wondering if this is still a good time to refinance home loans — or if it makes more sense to wait. So, let's take a look at where mortgage refinance rates currently sit. We'll also break down how they've changed...
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An adjustable-rate mortgage, or ARM, is a type of home loan with an interest rate that can change over time. Most ARMs have rate caps that limit how much rates can fluctuate when they adjust. The vast majority of mortgages have a fixed mortgage rate, so ARMs are relatively uncommon. ARM...
A lifetime mortgage is an equity release scheme. It is a loan secured against your home, which is not repaid until you die or go into long-term care.
This is the most common and popular type of mortgage in the UK — 74% of residential mortgage holders have one, according to the FCA. A fixed rate makes budgeting easier, because you’ll know what your interest is over the next two, five, ten years — or even the whole mortgage. You...
A standard variable rate (SVR) is an interest rate set by your lender. It is the default interest rate that mortgage customers are moved onto when their initial deal ends. For example, if you take out a two-year fixed-rate mortgage and don’t remortgage before the two-year deal period ...
An adjustable-rate mortgage, or ARM, is a home loan that has an initial, low fixed-rate period of several years. After that, for the remainder of the loan term, the interest rate resets at regular intervals. This means that the monthly payments can go up or down. Generally, the ...
Learn about the different types of fixed-rate mortgages from CIBC. Choose a fixed-rate closed mortgage for consistent monthly payments, a fixed-rate open mortgage for greater flexibility and learn how they’re both impacted by Canada Mortgage Bonds. Appl
A variable-ratemortgageis a home loan with no fixed interest rate. Instead, interest payments are adjusted at a level above a specific benchmark or reference rate, such as the Prime Rate + 2 points. Lenders can offer borrowers variable rate interest over the life of a mortgage loan. They ...