Overview
- Moneyfacts reported the average UK two-year fixed homeowner rate at 4.87% and the five-year fixed at 4.98% on Monday, both slightly higher than Friday.
- Barclays will raise selected residential purchase and remortgage rates from Tuesday, with Halifax and Lloyds also increasing rates across fixed and tracker products, and Santander set to lift some rates by up to 0.24 percentage points on Wednesday.
- Recent increases by HSBC UK, NatWest, Nationwide, Virgin Money and Gen H were followed by further adjustments from Coventry, Yorkshire and Nottingham building societies, while TSB is changing products with rises up to 0.15 percentage points.
- Some lenders temporarily withdrew deals during repricing, including Cumberland Building Society, Saffron Building Society and Fleet Mortgages, citing continued market volatility.
- US mortgage rates briefly dipped to 5.98% in late February before rebounding to roughly 6.0%–6.31% as conflict-driven oil spikes revived inflation concerns; the BLS reported a February net job loss of 92,000 with 4.4% unemployment, and markets now see low odds of near-term Fed or Bank of England cuts.