What the papers say - 13th and 14th September 2008

What the papers say - 13th and 14th September 2008

Money journalists wrote with a refreshing, optimistic tone again this weekend, following improved swap rates and improved mortgage lending. The Observer reported that after months of agony for homeowners and buyers, mortgage rates are falling-and even cheaper deals could be on the horizon. In the past few weeks interest rates on the very cheapest fixed rate deals have fallen below 5 per cent. And, as of last week, for the first time this year rates for anyone with only a 10 per cent deposit or equity in their home dropped below 6 per cent.  The Sunday Times also reported that lenders last week slashed rates for borrowers with smaller deposits for the first time since the start of the credit crunch, raising hopes it will kick-start the first-time buyer market. Elsewhere, the Sunday Express looked at the banks who are targeting customers with smaller deposits, aiming to make them current account customers, whilst the Financial Times noted that house prices are falling at their fastest since 1992.

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