A warning has been issued over property sales falling through this summer after mortgage rates are rising again. The average two-year fixed-rate mortgage was edging just below the 6 percent mark on Friday (June 16) as lenders continued to hike their rates, according to a financial information website.
Across all deposit options, the typical two-year fixed-rate deal jumped up from 5.92 percent on Thursday (June 15) to 5.98 percent today, said Moneyfactscompare.co.uk.
It comes after mortgage rates skyrocketed following the market turmoil after the mini-Budget in September 2022. Average two and five-year fixed mortgage rates topped 6% last autumn before later settling down.
