Fixed-rate bonds now on the market for just 30 days.
Before base rate hit its all-time low of 0.5%, the average length of time bonds hung around was typically 100 days, with a 158-day peak in March 2006.
Today, bonds are on sale for an average of 30 days - against 70 days two years ago, and 102 days five years ago.
In recent months, average fixed-rate bonds have also seen a fall in rates, particularly on longer term bonds, which may be fuelling the speed at which these bonds are snapped up.
The average five-year bond rate has fallen from 4.02% at the start of April to just 3.88% today. Sylvia Waycot, spokeswoman at Moneyfacts.co.uk, said: "Fixed-rate bonds continue to be the darling of savers and the banks and building societies have seized this opportunity by increasing the product choice from 274 in 2010 to 313 today.
"However, in recent months, there has been a downward trend on the rates of return these bonds promise, resulting in savers rushing to secure the best deals, which is why today's bonds hang around for an average of 30 days."
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|Publication:||Western Mail (Cardiff, Wales)|
|Date:||Jul 7, 2012|
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