Mortgage rates fall back as Barclays among lenders to cut
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Mortgage rates have decreased this week as Barclays PLC, among other lenders, reduced interest rates in response to easing swap rates. The average two-year fixed-rate mortgage interest is now at 5.5197%, down from 5.5352% last week.
November 29, 2024 | 1:00 pm
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Barclays PLC, trading as BCS in the US, has reduced mortgage interest rates in response to easing swap rates, contributing to a decrease in average mortgage rates.
Barclays' decision to cut mortgage rates is likely to positively impact its stock as it may attract more mortgage customers, potentially increasing revenue. The reduction aligns with easing swap rates, indicating a strategic move to remain competitive.
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