72% of all applications in June were for fixed rate mortgages, according to Countrywide.

The activities of Countrywide’s 700 mortgage consultants reveal a huge shift in favour of fixed interest rate products, which have reached levels not seen since October 2009. The split between fixed and tracker applications has increased by 19% since January, with a 7% increase in the last month.

Overall, the average interest rates of Countrywide’s Top 10 mortgages in the first six months of 2010 was 4.62%, a 0.67% decrease from the same period in 2009 when the average interest rate was 5.29%.

Remortgage customers are also opting for fixed rate products in 78% of mortgage applications – a 4% increase on the previous month and a 10% increase in Q2 2010 compared to Q1 2010.

Grenville Turner, Countrywide’s group chief executive, said: “Despite the Bank of England’s best efforts to hold base rates at a record low of 0.5%