Talks between US and Chinese officials in New York come ahead of summit between Donald Trump and Xi Jinping later in the week
Fixed-rate mortgage costs have jumped to multi-year highs in the UK.
The average two-year fixed residential mortgage rate rose to 5.88%, its highest since 16 April and up from 5.84% last Friday, while the average five-year is at its highest since October 2023, at 5.92%, up from 5.88%.
Borrowers will be frustrated to see fixed mortgage rates soar, with around £150 added to monthly mortgage payments, based on a typical mortgage [of £250,000 over 25 years], since the start of March 2026. There were notable rate hikes last week from the major brands, some increasing for the second time this month to catch up with rising swap rates.
The average two-year fixed rate is approaching its highest point seen this year, rising by over 1% since the start of March, and the average five-year fixed is now back to highs not seen since October 2023, the month after the infamous mini-budget.
