Ten-year mortgage deals are cheapest, says Moneyfacts

Data from Moneyfacts shows that 10-year mortgage deals are now the cheapest on the market. The average rate on a 10-year fix is currently 5.78% and while this marks a jump from the 2.99% average recorded a year ago, the increase is significantly less than for shorter-term fixes. Over the same period, the average rate on two-year fixes has nearly tripled from 2.25% to 6.47%, while five-year rates have climbed from 2.55% to 6.29%. Nick Mendes of broker John Charcol said more buyers would have to turn to longer-term fixes as they could become the only way to buy or remortgage. 

The Sunday Telegraph (16/10/2022)