Will the mortgage rate rise change your plans to buy a house or move?The average cost of a five-year fixed-rate mortgage has hit the 6% barrier for the first time in three years.Figures from financial information provide
The average cost of a five-year fixed-rate mortgage has hit the 6% barrier for the first time in three years. Figures from financial information provider Moneyfacts show the average is now 6.00%, its highest point since September 2023, while the average two-year fixed rate is 5.98%, its highest since December of the same year. Jitters in the money markets have made the loans more expensive for lenders to offer.
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