LIBOR and SWAP rates are easing - residential products on the move 10.11.08

Author: David Whittaker Posted on: 10 November 2008

After 3 month LIBOR fell on Friday by an eye watering 106bp to 4.49% there was a concern to see how much it would move today. It has reduced by a healthy 7bp to 4.42% which, if repeated, would boost confidence in market liquidity.

SWAP rates have continued their downward march with 1 year SWAP at 3.30% and 3 year SWAP at 3.84% it won't be long before lenders start to release better priced product - one example today is a 3 year fixed at 5.34% with a low fee of £495. It won't be too long before products starting with a "4 Figure" will be available on residential property. Buy To Let products will take a little longer but the ingredients are in place for better looking products in the coming days.

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