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Mortgage payments to hit the highest in more than a decade

May 31st, 2008 by admin

Mortgage payments will rise to their highest in more than a decade as a gloomy economic outlook squeezes the financial system even more tightly.

Homeowners seeking new mortgage deals have been warned that borrowing costs will jump yet again in the coming days, with fixed-rate deals becoming more expensive than at any time since 1997.

The interest rates charged on fixed rate loans are rising again after steep increases in mortgage-lenders’ own borrowing costs. Read more
Courtesy: www.telegraph.co.uk

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