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Cost of new mortgages falls
Data published by the Bank of England today show that the average rate charged on a mortgage taken out in February fell to 3.83% in February from 3.90% in January, and has been decreasing every month since last August, when the average rate stood at 4.34%.
The biggest price falls have been on short-term fixed rate deals. The average rate charged on all outstanding mortgages was stable at 3.67%.
