The average five-year fixed-rate home loan hit 6.01% today, topping 6% for the first time in eight months, according to Moneyfacts.  

The rate is up from 5.97% yesterday, says the data group.  

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.      

This has caused a raft of lenders to reprice home loan as swap rates rise.  

Coventry Building Society, NatWest, Barclays and Virgin Money have all raised rates since the end of last week.    

The last time the five-year fix was this high was in November, in the wake of market turbulence caused by former Chancellor Kwasi Kwarteng’s mini-Budget.  

The average two-year fixed residential mortgage rate posted 6.47% today, up from 6.42% on the previous working day, according to the data group. This term topped 6% last week.  

There are currently 4,404 residential mortgage products available, up from 4,396 yesterday, adds the research firm.