00:00So tracker mortgages are directly influenced by the Bank of England base rate.
00:03Fixed rate mortgages aren't.
00:05They're based on swap rates in the background and they've been steadily increasing.
00:09Swap rates are looking at inflation, energy prices,
00:12what they think the Bank of England will do now and in the future.
00:15And that's why the fixed rate market isn't directly correlating with the news we had today.
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