{"id":33551,"date":"2024-04-23T13:53:37","date_gmt":"2024-04-23T13:53:37","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/23\/mortgage-costs-rise-as-banks-confirm-higher-rates\/"},"modified":"2024-04-23T13:53:37","modified_gmt":"2024-04-23T13:53:37","slug":"mortgage-costs-rise-as-banks-confirm-higher-rates","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/23\/mortgage-costs-rise-as-banks-confirm-higher-rates\/","title":{"rendered":"Mortgage costs rise as banks confirm higher rates"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/i2.wp.com\/ichef.bbci.co.uk\/news\/1024\/branded_bbc\/2e2f\/live\/613594b0-0169-11ef-8369-47dc4454b972.jpg?resize=1024,576&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Mortgage costs rise as banks confirm higher rates\" title=\"Mortgage costs rise as banks confirm higher rates\" \/><\/div><p> <br \/>\n<\/p>\n<div>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Barclays said it had increased &#8220;most, but not all rates&#8221; this week. The rate for a two-year fixed deal with a maximum loan of \u00a3570,000 is up to 5.76% from 5.66% last week, while the equivalent five-year fixed rate is up to 5.00% from 4.90%.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Leeds Building Society also upped its rates for some products. Two-year and five-year fixed rates rose from 4.39% to 4.54% and 4.54% to 4.69%. <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">According to financial information company Moneyfacts, the average two-year fixed mortgage rate was 5.83% on Tuesday, up slightly from 5.82% the day before, while the average five-year rate was unchanged at 5.40%. <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Tom Bill from agency Knight Frank predicted it will be a long time before homeowners have access to mortgage rates below 4%. <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">\u201cThe prospect of a five-year fixed-rate mortgage starting with a three anytime soon is pretty remote,\u201d he said.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He added \u201cmixed signals\u201d on price movements within the economy were making the Bank on England\u2019s interest rate decisions difficult.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Expectations about the future direction of the Bank&#8217;s benchmark rate have a major influence on the mortgage rates offered by High Street banks.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The Bank&#8217;s key rate currently stands at 5.25% and earlier this year analysts had expected to see it being cut from June.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">However, inflation &#8211; the rate at which prices rise &#8211; has not been falling as fast as expected, leading some to push back their forecasts of when the Bank will take action.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.com\/articles\/c72pnzq483vo\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Barclays said it had increased &#8220;most, but not all rates&#8221; this week. The rate for a two-year fixed deal with a maximum loan of \u00a3570,000 is up to 5.76% from 5.66% last week, while the equivalent five-year fixed rate is up to 5.00% from 4.90%. Leeds Building Society also upped its rates for some products. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":33552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_bbc\/2e2f\/live\/613594b0-0169-11ef-8369-47dc4454b972.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[3331,2523,4645,6572,5144,6829,572],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/33551"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=33551"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/33551\/revisions"}],"predecessor-version":[{"id":33553,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/33551\/revisions\/33553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/33552"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=33551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=33551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=33551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}