§ Mr. Willetts
To ask the Chancellor of the Exchequer, pursuant to his answer of 10 May 2000,Official Report, columns 417–19W, what the average bank interest rate for mortgages has been since October 1995. 
§ Miss Melanie Johnson
[holding answer 24 July 2000]: The information requested falls within the responsibility of the National Statistician. I have asked him to reply.
Letter from John Pullinger to Mr. David Willetts, dated 28 July 2000I have been asked to reply to your recent question asking about average bank interest rates for mortgages (131780). I am replying in the National Statistician's absence.The average rate on standard variable mortgage rate loans by a cross-section of banks between October 1995 and May 2000 was 7.73%. End-month observations of this rate from January 1996 to date are published by National Statistics in table 71.J of Financial Statistics (series AJVR) or may be viewed on the National Statistics central database, to which the House of Commons Library has access.