Overview
- Average two-year fixed rates are about 5.54% and five-year fixes about 5.57%, marking the biggest single-day uplifts since spring as rate tables were reworked.
- Five major high-street lenders moved their pricing within 24 hours and at least 25 lenders raised selected products in the prior week, signalling a broad market repricing.
- Market commentators say the moves were driven by higher swap rates and government bond yields after the Middle East escalation raised fears of energy supply disruption and higher inflation.
- Brokers estimate that small percentage-point increases matter to households—for example, a 0.2 percentage-point rise on a £200,000, 25-year mortgage adds roughly £23 a month.
- Advisers are urging borrowers to seek broker guidance, consider locking a new or remortgage rate up to six months early, or choose a longer fix for certainty because volatility is likely to continue.