The average new fixed-rate mortgage price rose to 5.59% this week, according to the latest Moneyfacts rate watch.
Moneyfacts said this was a rise of 4bps from 5.55% at the same time last week.
The average new five-year fixed mortgage rate at 95% LTV has now climbed to 6.07%, up from 5.61% last week.
The largest rise was seen on three-year fixes to 65% LTV, which saw a rise of 29bps to 5.19% this week.
Large increases were also seen on three-year fixes to 95% LTV, which rose 13bps to 5.95%.
Moneyfacts head of consumer finance Adam French said: “Although the Bank of England held the base rate this week, investors are still pricing in future rate rises rather than cuts. Ongoing conflict in the Middle East has fuelled fears that higher oil prices will drive higher inflation and leave central bank rate setters with little choice but to hike rates before too long.
“While lenders continue to launch innovative products aimed at helping first-time buyers onto the housing ladder, higher borrowing costs continue to knock affordability for many hopeful homebuyers.”
Fixed rate and tracker changes
AIB (NI) – Fixed rates increased by up to 33bps. Atom Bank – Prime fixed rates increased by up to 25bps; Near Prime fixed rates increased by 10bps. Bank of Ireland Intermediaries – Fixed rates increased by up to 30bps. Bank of Ireland UK – Selected fixed rates increased by up to 15bps. Barclays – Selected fixed rates increased by up to 14bps; tracker rates increased by up to 11bps. Bath Building Society – Five-year fixed rates increased by 15bps; discounted variable rates increased by 20bps. Bluestone Mortgages – Selected fixed rates reduced by up to 15bps. Buckinghamshire Building Society – Discounted variable rates reduced by 40bps. Coventry Building Society – Fixed rates increased by up to 15bps. Darlington Building Society – Fixed rates increased by up to 40bps. Dudley Building Society – Fixed rates reduced by up to 25bps; discounted variable rates reduced by 30bps. Foundation – Selected fixed rates increased by 10bps. Gen H – Fixed rates increased by 15bps. HSBC – Selected fixed rates increased by up to 20bps; tracker rates increased by 7bps. Halifax – Selected fixed rates increased by up to 20bps (intermediary range) and 15bps (direct range). Leeds Building Society – Selected fixed rates increased by 20bps. Lloyds Bank – Selected fixed rates increased by up to 15bps. Mansfield Building Society – Fixed rates increased by 24bps; discounted variable rates increased by 25bps. Newcastle Building Society – Selected fixed rates increased by up to 45bps. Penrith Building Society – Selected fixed rates increased by 15bps; discounted variable rates increased by 25bps. Precise – Fixed rates increased by 20bps. Principality Building Society – Selected fixed rates increased by up to 13bps. Santander – Fixed rates increased by up to 19bps; tracker rates increased by 15bps. TSB – Selected fixed rates increased by up to 20bps. The Mortgage Lender – Selected fixed rates reduced by up to 25bps. Vida Homeloans – Fixed rates increased by 15bps. Yorkshire Building Society – Selected fixed rates increased by 20bps.
