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Figures published by MONEYFACT show that the mean two-year tracker rate has dropped by 0.08% since March and is now at 1.92%.
Figures published by MONEYFACT show that the mean two-year tracker rate has dropped by 0.08% since March and is now at 1.92%. It is the lower of the two-year tracker price since the Bank of England (BoE) raised its key interest rate to 0.5% in November 2017. While interest is falling, the number of available trades has also risen - from 222 at the beginning of the year to 246 in June.
This means that there is more selection for any borrower who wants to take the benefits of low pricing. Data published by the company at the end of last week's issue suggests that tracker dealing caused a sensation among prospective buyers. However, Nelson said with forecasts of a hike in interest rate levels later this year, the record might not be quite so high.
"Despite this small recovery, there is likely to be relatively little interest rate support for such deals," she said, "especially in the face of a key rate hike on the horizon. 1.