Borrowers are being warned mortgage rates are set to rise further as turbulence continues to hit the market.
Mortgage rates have gone up about 0.5 percentage points in the last month to approach an average fixed deal of 6%.Rates have been rising since recent data showed that UK inflation is not coming down as quickly as expected. It has a direct impact on lenders, many of whom have raised rates and taken deals off the market over the last few weeks.sold through brokers, but it temporarily reopened those offers on Friday.
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