Lenders have been cutting the cost of fixed-rate mortgages as the likelihood of further interest-rate rises subsides. Several lenders, such as Halifax, Northern Rock, Scottish Widows and the Portman, Britannia and Newcastle building societies have lowered their fixed rate mortgage deals recently. The moves were prompted by weak economic figures that have reduced the chances of a rate rise. A broker at L&C Mortgages, David Hollingworth, said buyers should still be thinking in the long term when it comes to choosing their mortgage: Obviously if you go for a discount tracker you will benefit if rates fall, but you could lose out if rates rise again. Ultimately you are talking about the next few years, not the next six months, and economic conditions could change. So rather than trying to second-guess what will happen to interest rates, I think it is far more important to go with what you feel comfortable with.” (Sunday Times)