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 4.64% (unchanged on the previous day) and a 5-year deal at 4.49%.
On a £200,000 repayment mortgage over 25 years, the 2-year deal works out at about £1,128 a month, about the same as the day before. The 5-year deal is about £1,110 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 0.27% over the past week and up 0.40% 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
- 08:22The Guardian's live blog suggests the pay slowdown may give the Bank pause.
- 10:20Europe's investor survey missed at 34.7 where 37 was expected.
- 10:20Morgan Stanley has joined Goldman Sachs in forecasting a rise from the Federal Reserve this week.
- 11:20Bank of America warns of the risk of a disorderly move in bond markets, and crude has risen for a second session.
- 14:18Crude is holding a smaller gain than it was this morning, while MarketWatch reports Saudi Arabia may be days away from a steep drop in exports.
- 14:18Wilkins speaks at four; the inflation number at seven tomorrow is the next thing that can shift a rate.
- 15:18Oman says two sailors are missing after a tanker was attacked in the Strait of Hormuz, and American gas prices are higher for a second day running.
- 15:18Wall Street opened a shade lower a day before the Federal Reserve decides.
Plain-language notes from the day's market commentary. Times are UK.
Other days
- 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%
- Tuesday 8 September 2-yr 4.37% ▲ 0.01%
- Monday 7 September 2-yr 4.36% ▲ 0.04%