Today's read
The rates lenders use to price fixed deals edged up on Monday. A typical 2-year fixed deal now works out at 4.65% (+0.06 on the previous day) and a 5-year deal at 4.47%.
On a £200,000 repayment mortgage over 25 years, the 2-year deal works out at about £1,128 a month, £6 a month more than the day before. The 5-year deal is about £1,109 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 4.75% around April 2027.
Bigger picture, the typical 2-year deal is up 0.28% over the past week and up 0.41% 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
- 07:22Friday's session was the first in five to end lower at every maturity.
- 09:20Brent is up 2.8% at $107.50 after a drone attack shut Saudi Arabia's East-West pipeline, and UK gas prices are at their highest in nearly four years.
- 15:22Nothing British has been published since Friday, and nothing will be until seven tomorrow.
- 17:20Two years is the exception, and it did not give any of its rise back.
Plain-language notes from the day's market commentary. Times are UK.
Other days
- Tuesday 15 September 2-yr 4.64% unchanged
- 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%
- Tuesday 8 September 2-yr 4.37% ▲ 0.01%
- Monday 7 September 2-yr 4.36% ▲ 0.04%