Mmastodon BusinessFinance first seen 3 h ago, last 2 h ago, peak #2
Average five-year mortgage rate hits 6% for first time in three years
Original: Mortgage misery as average five-year deal hits 6% for first time in three years https://www.standard.co.uk/business/mone
The average five-year fixed mortgage deal has reached 6% for the first time in three years, deepening pressure on UK households facing higher borrowing costs. Homeowners coming off cheaper fixed rates face steep increases in monthly payments, and buyers are being squeezed as lenders reprice deals upward amid persistent high interest rates.
Why now: Rising mortgage costs directly affect household finances and are a key cost-of-living concern in the UK right now.
Rank over time, top of the chart is #1. 4 snapshots from 3 h ago to 2 h ago.
Evidence
- Mortgage misery as average five-year deal hits 6% for first time in three years https://www.standard.co.uk/business/money/northern-ireland-naea-b1299553.html # Finance # Economy # News · the_standard@robot.villas · 4
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