UK Five-Year Fixed Mortgage Rate Hits 6%

The average UK five-year fixed mortgage rate has reached 6% for the first time in three years, according to figures cited by the Guardian. Lenders have raised prices as bond market turmoil increases expectations of a base rate rise, making the loans more expensive to offer. The BBC notes that new fixed-rate mortgage costs have been rising in recent weeks as lenders face higher costs.

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GuardianBBC

Average five-year mortgage rate hits 6% for first time in three years

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Guardian 4h ago

Average five-year fixed mortgage rate hits 6% for first time in three years

Banks and building societies raise prices as turmoil in bond markets increases expectations of base rate rise The average cost of a five-year fixed-rate mortgage has hit the 6% barrier for the first time in three years, as jitters in the money markets make the loans more expensive for lenders to offer. Figures from financial information provider Moneyfacts show the average is now 6.00%, its highest point since Septe…

BBC 6h ago

Average five-year mortgage rate hits 6% for first time in three years

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