New average mortgage rates drop below 6%

New figures reveal that the new average two and five-year fixed-rate mortgages now have an interest rate of less than 6% for the first time for two months. Data from financial information service Moneyfacts shows the typical two-year deal on the market now had a rate of 5.99%, and was likely to fall further, while the average five-year fixed-rate deal dropped below 6% nearly two weeks ago, and is now at 5.78%. 

BBC News (05/12/2022)   Financial Times (05/12/2022)