Borrowers expecting mortgage rates to drop have hopes dashed

Borrowers expecting mortgage rates to drop have hopes dashed

Major lenders have raised rates on new deals in recent days, leaving many borrowers needing to make a decision.

UK Mortgage Rates Hit 5.13%—What the Repricing Means for Bank Stocks

UK fixed mortgage rates are climbing again even though the Bank of England has not moved Bank Rate. The average two-year fix reached 5.13% on September 8, up 0.08 percentage points in a week, while the average five-year fix rose 0.07 points to 5.15%, according to Rightmove’s tracker using Podium data. That answers the immediate…