Rates Rise, Markets Wobble: The Mortgage Maelstrom Deepens The UK's mortgage market is once again sending out distress signals.
Lenders are scrambling to adjust their rates in response to rising interest rates and inflationary pressures. According to Moneyfacts, the average two year fixed residential mortgage rate has increased to 5.
62%, while the five year fixed rate now stands at 5. 64%. These increases mark a continuation of the trend seen in recent weeks. Major lenders such as Santander and Halifax are repricing their mortgages in tandem.