The average two-year mortgage deal is 5.93%, and for five-year deals the number is 5.5%, according to Moneyfacts Now, some major banks have cut their rates, but others have also increased them, creating “mixed signals” as to which direction the market is going in., rates “could swing either way” in the coming weeks and that homeowners should expect a “rollercoaster of rate adjustments as everyone tries to make sense of the political and economic landscape”.
Samuel Mather-Holgate, an independent financial adviser at Mather and Murray Financial, said: “Lenders are as confused as economists, with expectations of rate cuts between zero and three moves this year.”
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