Displaying items by tag: mortgage rates

Homeowners face rising mortgage rates as a Bank of England interest rate cut is delayed. Several banks have raised some mortgage rates, responding to uncertain economic forecasts. Inflation remained higher than expected at 3.2% in March, influencing market predictions and delaying anticipated rate cuts. Mortgage brokers have advised securing rates swiftly to avoid financial strain. One broker highlighted the volatile nature of current rates, while another noted increasing frustration among homebuyers due to these changes. Currently, the average two-year and five-year fixed mortgage rates stand at 5.82% and 5.40% respectively.