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Evening Standard
Evening Standard
World
Jonathan Prynn and Nicholas Cecil

New mortgage pain as lenders shake up deals

Inflation

Homeowners were on Monday facing more economic pain after mortgage rates soared to levels not seen since January as a wave of major lenders withdrew or repriced fixed-rate deals.

The average cost of two and five-year fixes jumped dramatically since Friday, according to latest data from analysts Moneyfacts. The average two-year deal now stands at 5.72 per cent, the highest since January 9, while the average cost of a five-year fix stands at 5.41 per cent, the highest since January 16.

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