Mortgage rates 'edge up' from some lender

Mortgage rates in the UK are showing mixed movements, with some lenders raising rates following increased government borrowing costs and a weakening pound, while others hold steady to avoid market disruption. Rising swap rates, which influence fixed-rate mortgages, are narrowing margins for lenders, making further rate increases likely. On Monday, the average 2-year fixed mortgage rate rose slightly to 5.48%, while the 5-year fixed rate increased to 5.26%, according to Moneyfacts. It means the rate gap between average two and five-year fixed-rate deals at the start of the year was the lowest since January 2023, when it was 0.16% percentage points. The average standard variable rate is significantly higher at 7.81%. 

The Independent (13/01/2025)   The Standard (13/01/2025)