The cost of fixed rate mortgages is back at the level it was in August last year when the credit crunch first began to bite, fugures have shown. The average rate for one of the deals is now 6.59% only fractionally above an average of 6.56% in August last year, and well down on a level of 7.08% in early July, according to financial information group moneyfacts.co.uk.

With many people beginning to realise that it’s not all doom and gloom in the property market, more and more people are choosing to move showing more confidence and with the prediction of interest rates going down, the future is getting brighter for the housing market.