Today's read
The rates lenders use to price fixed deals barely moved on Tuesday. A typical 2-year fixed deal now works out at 4.37% (+0.01 on the previous day) and a 5-year deal at 4.26%.
On a £200,000 repayment mortgage over 25 years, the 2-year deal works out at about £1,097 a month, £1 a month more than the day before. The 5-year deal is about £1,085 a month.
The Bank of England rate is 3.75%. Markets expect no change at the next decision on 17 September, and see it topping out at about 4.50% around April 2027.
Bigger picture, the typical 2-year deal is up 0.15% over the past month.
Generated from market prices, not opinion. "Typical" means someone borrowing 75% of their home's value. What the market expects today is not a prediction and not advice.
See what this means for my mortgage →What moved the market
- 07:25An empty UK diary leaves the question of whether the market keeps what it added late yesterday.
- 09:17Five-year borrowing is climbing fastest of all the terms this morning.
- 09:17Nothing has been released to explain it.
- 09:48On this market the next one would barely move.
- 10:18Government bonds gave back half the morning's climb in the hour after 345/26 landed.
- 10:18A borrower who could not draw at nine has not lost by it.
- 13:25Every day since late August has moved one way at both resets.
- 14:25Nothing was published to prompt either move.
Plain-language notes from the day's market commentary. Times are UK.
Other days
- Tuesday 15 September 2-yr 4.64% unchanged
- Monday 14 September 2-yr 4.65% ▲ 0.06%
- Friday 11 September 2-yr 4.59% ▼ 0.05%
- Thursday 10 September 2-yr 4.64% ▲ 0.18%
- Wednesday 9 September 2-yr 4.46% ▲ 0.09%
- Monday 7 September 2-yr 4.36% ▲ 0.04%