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The Independent UK

National

Vicky Shaw

Why mortgage rates recorded their biggest daily jump in months

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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Biggest daily jump in some average fixed mortgage rates recorded since spring

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