The midweek financial press was relatively quiet, with only the Daily Mail and Daily Express featuring mortgage-related articles.
The Daily Mail reported that fixed-rate mortgages may be on their way up as late last week, swap rates-which govern how much lenders can charge on fixed rates- rose by up to 0.3 of a percentage point. Consequently, the hike in swap rates means it is likely that fixed rates will soon be higher than they are now.
The Daily Express noted that lenders are increasingly using computerised customer profiling to decide what deals to offer existing borrowers and in order to minimise the number of customers who move to a rival. Systems sort borrowers into categories accordingly, based on how likely they are to switch deals and the probability of them getting into trouble with their current loan.