The average two-year fixed residential mortgage rate lifted 4 basis points to 6.23% today (Monday 26) from Friday, data from Moneyfacts shows, a seven-month high.  

The average five-year fixed residential mortgage rate also rose by 3bps to 5.86% since the end of last week. 

The research comes after the Bank of England hiked the base rate by 50 basis points to 5% last week, its 13th rate rise in a row taking it to the highest level in 15 years.   

The data group points out that there are currently 4,483 residential mortgage products available, up from 4,444 on the previous working day.  

It adds that the average two-year buy-to-let loan rate is unchanged over the same period at 6.49%, while the average five-year BTL mortgage rate edged down by a single basis point to 6.39%. 

There are currently 2,459 landlord home loan products available, up from 2,412. 

Today’s average two-year tracker rate jumped 18bps to 5.84%, from Friday. 

The group adds that the average standard variable rate as of 1 June is 7.52%.