Business · 1 hour ago
Five-year mortgages hit 6% as cheaper deals vanish
The average rate on a new five-year fixed mortgage has reached 6% for the first time since September 2023, according to Moneyfacts. Two-year fixed deals now average 5.98%. Around 1,500 deals priced below 5% have disappeared since early September as lenders react to rising borrowing costs linked to the Iran war. Barclays raised selected fixed rates four times last month, the financial data firm said.
Reported by BBC News · How we write briefs