Mortgage brokers have said borrowers should remain calm and look beyond average rate figures as Moneyfacts revealed the average two-year fixed rate was now 6.01 per cent. This is the highest the average two-year fix has been since December, when they started to steadily fall as the impact of the mini Budget eased. The average five-year fixed rate is currently 5.67 per cent. Rates started to rise again in April when it was revealed that inflation was not falling as quickly as initially thought and swap rates began to increase. At the time, the average two-year fixed rate was 5.44 per cent. Read the experts comments:
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Link to Original Article: Mortgage Solutions Magazine - Brokers urge borrowers to keep calm as average two-year fix breaches six per cent