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Housing Today
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Hundreds of mortgage options pulled as fixed mortgage rates rise
The number of available mortgages dropped 4% in one weekend as the average fixed rate of a two-year loan reaches 5.72%
Hundreds of residential mortgage deals were withdrawn from the market over the weekend according to data from Moneyfactscompare.co.uk.
More than 280 mortgage options were removed by lenders from Friday to Monday, representing a 4% drop.
This follows a downward trend from a week earlier, when 373 mortgage options were removed in the week to 30 May.
On 24 May it was announced that UK inflation dropped to 8.7% in the year to April, the first time it has dropped below 10% since August and the lowest since March 2022. Yet that steep fall was less dramatic than had been predicted by economists.
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