The latest mortgage data from Moneyfacts reveals average interest rates hitting the 6% figure.

For residential mortgages, the average two-year fixed rate increased from 5.98% on Friday to 6.01% today, while the average five-year fixed rate increased from 5.62% to 5.67%.

The product count fell from 4,923 on Friday to 4,683 this morning.

For buy-to-let mortgages, the product count fell from 2,589 on Friday to 2,515 this morning.

The average two-year fixed rate increased from 6.21% on Friday to 6.30% today, while the average five-year fixed rate increased from 6.17% to 6.23%.

Moneyfacts finance expert Rachel Springall says the unnerving uncertainty surrounding interest rate pricing on mortgages has been prevalent over the past few weeks.

“Average rates are still around the highest they’ve been so far in 2023, so it will be interesting to see how rates and availability fluctuate in the coming weeks.”