Overview
- UK two-year fixed mortgage averages have risen to about 5.35% from 4.83%, adding roughly £900 a year on a £250,000, 25-year loan, according to Moneyfacts.
- More than 500 UK mortgage products were withdrawn or repriced over the past week, with sub‑4% offers from major lenders such as Nationwide, Barclays and HSBC disappearing.
- The Bank of England kept the base rate at 3.75% as it warned of energy-driven inflation risk, and market pricing has shifted toward the possibility of further increases in 2026.
- In the U.S., the 30-year fixed rate rose to 6.22% for the week ending March 19 per Freddie Mac, daily readings moved back above 6.5%, and mortgage applications fell about 11% on the week.
- Sonia and swap rates have jumped to their highest in over a year—two-year near 4.21% from 3.36% on Feb. 27 and five-year near 4.13% from 3.41%—lifting lenders’ funding costs and feeding into higher fixed-rate pricing.