Nationwide will become the latest lender to raise mortgage rates again, with increases of up to 0.7 percentage points taking effect on Friday.
"It is massively hard to navigate for everyone, especially clients, who need to make quick decisions in these circumstances, whilst brokers are working round the clock to try to lock in to these rates," he said.Nationwide is the latest major to repeat rate rises. On Friday, it will increase the rates on a variety of fixed-rate mortgages sold via brokers. Among them is a 0.7 percentage point hike in interest on new deals for existing customers moving home.
Data on wages and rising prices mean markets anticipate inflation and interest rates to stay higher for longer than previously expected.
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