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Evening Standard
Evening Standard
Business
Jonathan Prynn

Average five year fixed mortgages surge past 5% as Iran war fallout hits homeowners

Iran Stock Market Donald Trump Oil

Average five year fixed mortgage rates have surged above the 5% mark for the first time since November as homeowners pay a heavy price for Donald Trump’s war in Iran.

The average rate rose from 4.98% yesterday to 5.03% today, the highest since October 20, after most major mortgage lenders including Halifax, Nationwide and HSBC withdrew their cheapest deals ands increased rates by up to a quarter of a percentage point. The average two year fix rose from 4.87% to 4.93%.

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