Source: http://www.findaproperty.com According to research from moneyfacts.co.uk, fixed-rate products currently make up 69 per cent of the mortgage market, compared to just 51 per cent at the same time last year.  This is because, despite the series of interest rate cuts, the gap between swap rates - the borrowing rate between banks - and the rates they offer to customers is widening, says moneyfacts. Last December, the difference was 1.12 percentage points; this December, it has increased to 2.92 points. Michelle Slade, analyst at Moneyfacts, says: "By not reintroducing cheaper tracker mortgages to the market, the lenders are leaving borrowers with little option but to go on to more expensive fixed rate mortgages. "It is evident that lenders are continuing to increase their margins, despite a fall in the cost of funding."Affordability is a key issue for borrowers, who prefer fixed rate mortgages as a way of stabilising their monthly outgoings and could be a secure option to weather the storm of the imminent recession. "Borrowers expect to pay a slightly increased price to fix their mortgage repayments compared to tracker deals.  "However, today the gap between the average two-year fixed and tracker mortgage stands at 1.16 per cent, compared to just 0.14 per cent this time last year. "It would appear that all lenders are adopting a similar approach, despite calls from the Government to pass on cuts to borrowers."