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Reason behind Yorkshire building society mortgage rates cut?

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Written on: 19.01.2010 [11:21]
Topic creator
Posts: 4
There seems to be some new Yorkshire building society mortgage rates at the moment and I am wondering whether others will follow. It seems that they cut their fixed rate mortgage last week to 3.19% - their lowest ever fixed rate mortgage. I thought the economy was improving, why are they cutting their rates? Isn’t this a stupid move on their part? Will others be following the trend also?
Written on: 25.01.2010 [18:52]
Posts: 2
I don’t think it’s a stupid move, they no their business and will not have just decided to cut rates just like this. I am sure there must be a sensible reason for it, not just cus they felt like it, even if the economy is increasing.
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  • Written on: 27.01.2010 [11:45]
    Posts: 1
    Of course there is a reason for it, and it is because the economy is on the rise that they are doing so. People will start buying houses again and they need to give a good rate in order to be competitive with other lenders.
    Written on: 27.01.2010 [16:26]
    Posts: 6
    Both Coventry and Woolwich Building societies have cut their mortgage rates too so I think it is a marketing trend and they are definitely trying to be competitive. There is hope for us yet icon_wink.gif