What I think you are pointing out is that the market behaves as in 'crossover' when the borrowing rate >= lender rate not just >. So rates being = is a special case of crossover - maybe we need a new term?
I'm not sure if they have 'fixed' crossover. There is some debate about whether it's a bug or a feature.
I still think it happens when borrowers are greater than or a high percentage of lenders figures.
At the moment there is a very large lender figure > £3M the previous largest I saw was ~ £1.5M (up to 6.6%) in the last 12 weeks or so.
We need a lot of big borrowers (on 5% market) before 6.5% comes back (or we can say that crossover is a thing of the past) I think.
As I posted earlier it was £1.28M when I first saw it. Hope it's for a good project!
It seems everyone got paid back yesterday.
Now if this was a big property development loan 7% was a very good rate, and I very much doubt it would be redeemed only 6 weeks later.
If the loan was to multiple borrowers, then as we all seem have been paid back, this again feels like Ratesetter borrowing at a lower rate then repaying the higher ones.
I personally expect anything much over 5.5% to be paid back quickly, so I just treat these now as a slightly longer term rolling, but I can't see how someone just magic up 1.28m to pay back so quickly myself....