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Carolina One agent leads networking Realtor conference

13-15 at the Francis Marion Hotel in historic downtown Charleston. More than 300 real estate agents from across South Carolina were in attendance for the conference. The keynote address was delivered by Jackie Leavenworth of Canton, Ohio. Leavenworth is ...

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-1?"ttf":"woff";localStorage.setItem(formatStorageKey,format)}return format}();var fonts=document.querySelectorAll(".webfont");var hinting=fontHinting==="Off"?"":"hinted-"+fontHinting+"-";var urlAttribute="data-cache-file-"+hinting+fontFormat;for(var i=0,j=fonts.length;i0&&alpha-1){"screen";;try{}catch(e){}return true}}setTimeout(function(){setMedia(styleSheet)})}function useCss(){for(var i=0,totalStyleSheetLinks=styleSheetLinks.length;i switch to the US edition switch to the UK edition switch to the Australia edition switch to the International edition current edition: US edition The Guardian - Back to home Make a contribution Subscribe Find a job Jobs Sign in Comment activity Edit profile Email preferences Change password Sign out My account Search News Opinion Sport Culture Lifestyle Show More News US news World news Environment Soccer US politics Business Tech Science Homelessness Opinion The Guardian view Columnists Letters Opinion videos Cartoons Sport Soccer NFL Tennis MLB MLS NBA NHL Culture Film Books Music Art & design TV & radio Stage Classical Games Lifestyle Fashion Food Recipes Love & sex Home & garden Health & fitness Family Travel Money What term do you want to search? Search with google Become a supporter Subscribe Sign in/up My account Comment activity Edit profile Email preferences Change password Sign out US edition switch to the UK edition switch to the Australia edition switch to the International edition Jobs The Guardian app Video Podcasts Pictures Newsletters Digital archive Crosswords Facebook Twitter Jobs Money Property Pensions Savings Borrowing Careers More Mortgages Fixed-rate mortgage costs rise Interest rates on fixed-rate mortgages are rising despite a falling inter-bank rate, according to Bank of England figures Sandra Haurant and agencies Share on Facebook Share on Twitter Share via Email View more sharing options Share on LinkedIn Share on Pinterest Share on Google+ Share on WhatsApp Share on Messenger Close This article is 8 years old Mortgages are more expensive despite the inter-bank rate fallingPhotograph: Andrew Parsons/PA The cost of borrowing between banks fell in August, but lenders are not passing on the savings to mortgage customers on fixed-rate deals, figures showed today. Data from the Bank of England showed the average interest rate charged on a five-year fixed-rate mortgage with a loan to value (LTV) of 75% reached an average 5.72% in August, having dipped to below 5% between January and May. However, five-year swap rates (the bank-to-bank lending costs on which these deals are based) have seen a significant fall from a recent peak of 3.79% on 7 August to 3.34% at the end of the month. Interest rates on two-year fixed-rate mortgages with a 25% deposit have remained at 4.42% in August, despite two-year swap rates falling from 2.37% to 1.95% during the month. This was the fourth month in a row that the cost of five-year fixed-rate deals had risen, and by the end of August average rates on loans were at their highest level since the end of last OctoberAt that point the average deal cost 5.88%, but the base rate was 4.5% compared with 0.5% today. Banks were quick to pass on higher costs to borrowers in June and July this year when swap rates increased sharply, but falling rates have failed to produce more competitive rates. Fixed-rate mortgages have grown in popularity as borrowers attempt to control their outgoings and shield themselves from possible interest rate risesIn June, 78% of people taking out a mortgage opted for a fixed-rate deal, the highest proportion in two years. Critics have accused lenders of profiteering by keeping large margins between their own borrowing rates and those passed on to customersBut David Hollingworth of broker London & Country said that while there were profits to be made a lack of enthusiasm for increasing lending books was a bigger problem. "I think one of the main reasons fixed rates have been staying put or even becoming more expensive is all tied up in the marketplace we are in," he said"There is a lack of competition and a lack of lenders in the marketplace, which means there is an imbalance between supply and demand." He added that many lenders had "at least as many customers as they want to attract" and that there was little enthusiasm for increasing competition as banks are "no longer chasing volume" when it comes to mortgage borrowers. Hollingworth said only three lenders – Newcastle building society, Britannia building society and HSBC – were now offering five-year fixed-rate deals below 5%. For both Britiannia and HSBC, borrowers need a deposit of at least 40% to get the rate, while Newcastle's deal is open to people with a 25% deposit. Topics Mortgages Borrowing & debt Property Banks and building societies Mortgage rates news Share on Facebook Share on Twitter Share via Email Share on LinkedIn Share on Pinterest Share on Google+ Share on WhatsApp Share on Messenger Reuse this content View all comments > Order by newest oldest recommendations Show 25 25 50 100 All Threads collapsed expanded unthreaded Loading comments… Trouble loading? View more comments Signed in as Show comment Hide comment Hide comment Welcome , you’re about to make your first comment! Before you post, we’d like to thank you for joining the debate - we’re glad you’ve chosen to participate and we value your opinions and experiences. Please choose your username under which you would like all your comments to show upYou can only set your username once. Username: Must be 6-20 characters, letters and/or numbers only, no spaces. 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