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The Guardian - UK
The Guardian - UK
Business
Hilary Osborne

Average five-year fixed mortgage rate hits 6% for first time in three years

Brightly painted cottages in Kingswear in Devon
There has been no change in the Bank of England base rate since December last year. Photograph: ColsTravel/Alamy

The average cost of a five-year fixed-rate mortgage has hit the 6% barrier for the first time in three years, as jitters in the money markets make the loans more expensive for lenders to offer.

Figures from financial information provider Moneyfacts show the average is now 6.00%, its highest point since September 2023, while the average two-year fixed rate is not far behind at 5.98%, its highest since December of the same year.

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