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Mortgages - fixed rates continue to fall despite market worries

The stories in the press this week have been surrounding the sudden increase of mortgage rates. Looking at the market is this just the press searching for the bad news and desperate to link the rising rates to the credit crunch in financial markets.

To date only Abbey, Halifax and Standard Life have increased selected variable tracker rate mortgages. Look a little deeper and a prospective borrower is still going to find a good deal.

In fact, fixed rates have been falling, and Britannia Building Society top the best buy charts for fixed rate mortgages:

If you are not prepared to risk an increase in your monthly payments and want the stability of a fixed rate there are certainly some competitive products around. As ever due to the size of the market it is important to think about what you want from your mortgage and work out the true cost depending on your individual circumstances.