Fixed-rate mortgages pulled as rate rise fears grow

May 1, 2007
Banks and building societies began withdrawing cheap fixed rate mortgage deals last month in anticipation of two or three interest rate rises in the near future. The move came after the inflation rate hit a ten-year high of 3.1% and some analysts predicted interest rates could reach 6%. Lenders including Halifax, Alliance and Leicester, and Portman Building Society, all pulled …

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