You are here: Home - News -

Fixed mortgage rates edge down from recent highs

  • 22/06/2018
  • 0
Fixed mortgage rates edge down from recent highs
Mortgages rates on two-year fixes have fallen back from highs seen in May, analysis has shown.


Rates stand at a typical 2.51%, after last month hitting 2.52% which was the highest level since 2016, according to Moneyfacts data.

Mortgage costs appear to have cooled after the Bank of England held off raising interest rates in May.

Leeds Building Society, Platform and HSBC are among lenders that cut top-line costs in recent weeks.

Rates had been gradually rising since last year when the average two-year rate was just 2.26%.

Despite dipping this month, mortgage costs could again rise after monetary policymakers appeared to signal the base rate could move up to 0.75% in August.

Three of the Bank’s Monetary Policy Committee (MPC) members called for a rise at this week’s meeting, with chief economist Andy Haldane voting for a rise for the first time.

Ruth Gregory, senior UK Economist at Capital Economics, said: “While the Monetary Policy Committee (MPC) stopped short of explicitly committing to a rate hike in August, the hawkish tone of June’s minutes and statement suggest that it is pretty likely.”

Economic data over the coming weeks is set to be key in the MPC’s decision over whether to make a move.

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Leeds BS branch
Leeds BS cuts buy-to-let rates

Leeds Building Society has reduced rates on its no fee buy-to-let mortgage range by up to 0.11%.