March 14, 2008

By Sharlene Goff and Jane Croft
Copyright The Financial Times Limited 2008

Lenders are frantically withdrawing many of their mortgage offers - sometimes with less than an hour's warning - as severe funding constraints mean that they are unable to meet demand for the most competitive deals. ...The root of the problem is unprecedented volatility in the mortgage markets. In the past lenders would typically have given at least a few days' notice before they withdrew rates. But some are now choosing to give little or no notice so as to avoid a last-minute stampede from borrowers desperate to secure the best deal.

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