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✍️ The average cost of a new fixed-rate mortgage is increasing as brokers warn that borrowers may face 'further pain' if inflation rises above the Bank of England's 2% target.
👉 The average cost of a new fixed-rate mortgage is increasing
👉 Brokers warn that borrowers may face 'further pain' if inflation rises above the Bank of England's 2% target
👉 Mortgage rates have been edging up recently
👉 Many high street lenders have increased the cost of their new fixed-rate deals
👉 The average new five-year fixed-rate mortgage now stands at 5.23%
👉 The average new two-year fixed-rate mortgage now stands at 5.51%
#AndrewMontlake #CraigFish #DavidHollingworth #mainstream #business
quotingfeeds.guardian.co.uk (nprofile…ttcd)
nevent1q…nddu
Concerns interest rates will stay higher for longer if official data on Wednesday shows inflation is back above 2% targetThe average cost of a new fixed-rate mortgage is continuing to creep up, data shows, as brokers warn that borrowers could face “further pain” if the latest data out this week shows inflation has risen back above the Bank of England’s 2% target.Expectations that UK interest rates will stay higher for longer as a result of measures in last month’s budget have prompted many mortgage lenders to increase the cost of their new fixed-rate deals, while the US election result has helped to fuel the volatility. Continue reading...
https://www.theguardian.com/money/2024/nov/18/uk-mortgage-rates-creep-up-as-brokers-warn-of-possible-further-pain-interest-rates-inflation-figures