Editor's note: This brief was summarised by The Property AI Newsroom from a report by This Is Money Mortgages. Read the original article for full details.
Five-year fixed rate mortgages hit highest levels since 2023
The average five-year fixed rate mortgage has hit its highest level since 2023, according to the latest data from Moneyfacts. This Is Money Mortgages describes the development as following a 'dark week' for borrowers.
What this means for the rental market
Rising mortgage costs can affect landlords with finance due for renewal, which in turn may influence rental market conditions. Letting agents and inventory clerks should be aware that borrowing costs are moving higher, as reported by Moneyfacts data cited in the source article.
For the full figures and analysis, readers are directed to the original report.
Source: This Is Money Mortgages