The result is a virtual tug-of-war. As interest rates of bank rate mortgages decline, the interest of investors and home consumers alike are tweaked just a little bit. But this all depends on the direction of the economic growth, inflation, appetite for the given product, and several other factors. A typical outcome of lowering rates for bank rate mortgages though is lesser interest on the part of the investors. For most people, refinancing a home only makes sense if the new home mortgage rate is 2% lower than your current rate. This idea no longer applies in today's market though, where loan terms are no longer limited to 30-year fixed rate mortgages. Lenders today are offering fixed rate mortgages with 15, 20, or 30 year terms. Because interest-only mortgage rates have lower costs compared to fixed rates or other types of loans, you are afforded extra money which would have been spent on high monthly payments. Interest-only mortgage rates give you the chance to qualify for other loans, thus enabling you to buy more home or real estate properties. Other features of these mortgage rate comparison tables are cash ISAs, deposit accounts, and fixed rate savings bonds. In addition, the mortgage rate comparison tables on the FSA website contain information on income bonds, capital bonds, children's bonus bonds, and National Savings & Investments accounts and certificates. These changes on variable rate mortgages are affected by several factors, such as changes in investor markets. Because of its low initial payment, a lot of people like to take on a variable rate mortgage. Financial reports suggest that the risks you assume in taking a variable rate mortgage are considerable but the gains are even more so. Fixed Rate Mortgage There are several types of mortgages offered by lenders in the market. The most common of these types is fixed rate mortgages. Fixed rate mortgage loans are characterized by fixed rates and monthly payments that are generally for a 15-year and 30-year periods. Fixed rate mortgages are popular in the consumer market because of its stability.