Mortgage rates hit record low

3rd June 2016

Home buyers paid the lowest interest rates ever on their mortgages in April, according to the Bank of England. The average borrower paid just 2.41% on a new mortgage last month, down from 2.49% in March and 2.64% in April 2015. The BoE data also showed that mortgage lending so far this year is at its highest level since the financial crisis. A total of 497,301 mortgages were approved between January and April, up 17.6% on the same period a year earlier.

The Daily Telegraph (02/06.2016)