- Average fixed homeowner mortgage rates have recorded their biggest daily jump since spring this year, according to financial information website Moneyfactscompare.co.uk.
- The typical two-year fixed residential mortgage rate rose by 0.04 percentage points to 5.54%, while the five-year fixed rate increased by 0.05 percentage points to 5.57%.
- This increase follows a recent period of rate reductions and is attributed to rising swap rates, which lenders use to price mortgages, influenced by geopolitical tensions.
- A wave of lenders, including HSBC, Barclays, Nationwide Building Society, Lloyds Banking Group and NatWest, have increased their rates.
- Experts warn that mortgage rate volatility is unlikely to calm in the weeks ahead, advising prospective borrowers to stay informed and seek independent advice.
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