Banks Announce Higher Mortgage Rates, Driving Up Costs for Homebuyers

Quick Summary:

The increases come after forecasts for when the Bank of England will cut interest rates are pushed back.

NatWest, Barclays, and Leeds Building Society have raised their rates on fixed-term loans, though not on all products.

Two-year and five-year fixed rates rose from 4.39% to 4.54% and 4.54% to 4.69%.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Homeowners Rates Natwest Two-year Mortgage Expected Rate Barclays Five-year Fixed Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-23 @ 13:13:39 (1 weeks ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 403 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 20770760

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