Remortgage market the next to suffer

Story link: Remortgage market the next to suffer

This mentions quite a lot about the decline about variable rate mortgages and fixed rate.
Its quite obvious that anyway taking out a mortgage will be leaning towards the fixed rate, as even if the rate goes down, at least they are locked in on a stupidly low rate for the time being.

Remortgage market the next to suffer

Legal & General mortgage club is predicting that the remortgage market is set to suffer as SVRs fall in line with base rate cuts.
L&G’s Mortgage Purchase Index for Q4 2008 shows that 17% fewer borrowers took up a variable rate than in Q3, despite the recent cuts to base rate.