Speed of mortgage rate increases appears to be slowing down
Daily Mail The speed of mortgage rate increases finally appears to be slowing after a fortnight of sharp rises, but deals now stand at an eye-watering average of nearly 6 per cent.
The average price of a two-year fixed deal was today at 5.83 per cent - up only slightly from5.82 per cent yesterday, according to financial experts atMoneyfacts.
But it has risen from 5.64 per cent a week ago, 5.35 per cent a fortnight ago and 5.30 per cent a month ago. One year ago in June 2022 it was at just 3.25 per cent.
As for five-year fixed deals, the average today was 5.48 per cent - marginally down from 5.49 per cent yesterday. But it is still up from5.32 per cent a week ago and 5.02 per cent two weeks ago. And one year ago the figure stood at 3.37 per cent.
The total number of mortgage products is also now rising again after a slump over the past fortnight, with the figure at 5,056 today. This was up from4,831 yesterday.
It was also a rise from 4,597 two days ago and 4,888 a week ago - but down from 5,192 two weeks ago. But it was 5,189 one month ago and4,987 one year ago.
