Cabinet ministers are blaming the Bank of England for soaring mortgage costs, according to reports.
The average two-year fixed mortgage interest rate rose to 6.16 per cent this week, its highest since November 2008 amid the financial crisis. By comparison, the average two-year fixed rate was 4.24 per cent at the beginning of last month and 2.34 per cent in December 2021, financial information service Moneyfacts states.
