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The Latest Breaking News from Moneyfacts

Mortgage rates soar to highest level for 15 years - and worse than after Mini-Budget

According to MoneyFacts.co.uk, the average two year fixed for a fixed rate today was 6.66% - which is 0.1 percentage point higher then the peak the UK saw after the Mini-Budget

Daily Mirror

Mortgage rates could surpass mini-Budget peak to hit 15-year high, experts warn

Two-year fixed-rate residential mortgage reaches 6.63 per cent on Monday

The Independent UK

Average two-year fixed mortgage rate close to surpassing post-mini-budget peak

The typical two-year fixed-rate residential mortgage on the market has reached 6.63%, Moneyfactscompare.co.uk said.

The Independent UK

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Boost for savers as building society unveils some market-leading rates

The new deals include a one-year fixed-rate Isa at 5.30% and a two-year fixed-rate Isa at 5.40%.

The Independent UK

The saver’s dilemma: open an account now, or hope for even higher rates?

With the best-buy tables changing almost by the hour, what’s the best strategy for maximising returns and not missing out?

The Guardian - UK

Average five-year fixed-rate mortgage on the market edges closer to 6%

The typical five-year fixed-rate deal for homeowners is now 5.94%, Moneyfactscompare.co.uk said.

The Independent UK

Two and five-year fixed-rate mortgages in UK at highest level for seven months

Data from Moneyfacts shows average cost of two-year deal now at 6.23%, with five-year at 5.86%

The Guardian - UK

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Mortgage rates hit seven-month high as homeowners feel ‘intense pain’

Analysis suggests new mortgages cost over £2,000 more per year than in France

The Independent UK

How to make the most of high interest rates

Soaring interest rates are bad news for borrowers but there may be silver linings for some people.

The Week

Martin Lewis 'desperate' warning as mortgage rates climb to 9%

The Money Saving Expert founder said hiking up interest rates causes "huge pain" to mortgage holders

Liverpool Echo

Martin Lewis says mortgage timebomb has 'exploded' and says Tories were warned

Moneysavingexpert.com founder Martin Lewis said he warned Jeremy Hunt about the threat from rising mortgage rates at a summit in December

Daily Mirror

Mortgage ‘ticking timebomb’ I warned of has exploded, says Martin Lewis

Comments come as data shows average two-year fixed rate rises to 6.07%, and five-year to 5.72%

The Guardian - UK

Average two-year fixed-rate mortgage tops six percent for first time in 2023

The average two-year fixed-rate homeowner mortgage on the market has topped 6 per cent for the first time this year.

The National (Scotland)

Average two-year fixed-rate mortgage tops 6% for first time in 2023

The last time that the average two-year fixed-rate mortgage was 6% or higher was in December 2022, according to figures from Moneyfactscompare.co.uk.

The Independent UK

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The Guardian - UK

Average two-year fixed rate mortgage deal hits 6% for first time this year, as Sunak rules out extra help – business live

Average mortgage rates hit highest level since December, as asking prices for British homes fall in June for the first time in six years

The Guardian - UK

What are the best options if you are looking for a mortgage?

With interest rates predicted to rise again and cost of fixed-rate deals on the up, here’s what you need to know

The Independent UK

Average fixed mortgage rates edge closer to 6% as more deals are hiked

The typical two-year fixed-rate deal was sitting at 5.98% on Friday, Moneyfactscompare.co.uk said.

Daily Mirror

Mortgage mayhem explained: Why are rates rising and what should you do now?

Mortgage rates are rising, spelling more misery for millions of homeowners across the country - but why are deals getting more expensive and what should you do next?

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The Guardian - UK

Labour says ‘Tory mortgage penalty’ costs homeowners extra £7,000 a year

Opposition finds fallout of Liz Truss mini-budget has raised average mortgage interest payments by £150 a week in two years

Wales Online

Average homeowner pays £223 a week 'mortgage penalty' as interest rates triple

This equates to £7,000 a year and the the 'reckless economic gamble' taken by the Conservatives during September’s mini-Budget has been blamed

Daily Mirror

HSBC pulls mortgage products and Nationwide hikes deals over fears of rate rises

HSBC has removed its "new business" residential and buy-to-let products, while Nationwide increased its fixed rates as well as reducing some rates on trackers

The Independent UK

HSBC pulls mortgage products for new borrowers ahead of rates hike

Nationwide Building Society is hiking some fixed rates from Friday while HSBC UK has temporarily removed some products before relaunching on Monday

Wales Online

More pain for home buyers as Nationwide hikes mortgage rates HSBC deals disappear

It's more bad news for people buying or remortgaging

The Independent UK

Mortgage rates hiked and products temporarily withdrawn by lenders - OLD

Nationwide Building Society is hiking some fixed rates from Friday while HSBC UK has temporarily removed some products.

Manchester Evening News

Average two-year fixed-rate mortgage increases by £35 a month in weeks

It comes as a Bank of England interest rate review takes place later this month

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