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Evening Standard
Evening Standard
Vicky Shaw

Mortgage ‘pain’ not easing for borrowers as average fixed rates climb

Moneyfacts Bank of England Rachel Springall
In February 2022, there were sub-2% fixed mortgages available, Moneyfactscompare.co.uk said (Joe Giddens/PA Archive) - (PA Archive)

Fixed mortgage rates are already being pushed higher, ahead of the Bank of England base rate decision later this week, according to a financial information website.

On Tuesday, the average two-year fixed homeowner mortgage rate on the market was sitting at its highest level since May 28, while the average five-year fix was at its highest since April 12, Moneyfacts said.

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