OS PINGOS NOS IS – 28/07/2022

There’s no doubt that the US is facing a financial crisis of epic proportions. The exiting administration and the newly elected one have both confirmed that it isn’t going to be resolved anytime soon. It’s likely that Americans will be spending less this Holiday season, out of necessity. Even those who have been putting money away for this time of year may be wondering if those savings won’t be needed elsewhere.

Lenders, who are struggling to keep on top of demand for tracker mortgage deals, have begun to reduce the cost of fixed-rate offers. With the base rate dropping to 3% earlier in the week and more cuts expected in the future, it appears that the lenders are trying to stem the flow of people taking out tracker deals to take advantage of the new lower rates.