The mortgage interest is still falling, albeit at a slower rate, despite some lenders who have made price increases in recent weeks.
According to the latest data from MoneyFacts that report that a typical fixed rate of two years has fallen by 0.06% from 5.18% in May to 5.12% in June, while the five -year version with an average of 0.01% fell to 5.09%.
These reductions were smaller than those in the previous month when a typical fixed rate of two years fell by 0.14% and the five -year fix fell by 0.08%.
It comes when some Mortgage providers have made price increases In response to rising inflation and higher swap speeds.
But despite these increases, Money Facts said that the average fixed rates of two and five years since September 2022 (4.24%) and November 2024 (also 5.09%) are not that low.
And this time last year, the average fixed rate of five years was 5.50% compared to 5.09% today. In the meantime, the typical fixed rate of two years was 5.93%, apparently higher than the 5.12% today.
Rachel Springall, financial expert at MoneyFacts, said: “Lenders were repeating their mortgage reaches in May, but the margins of cutbacks on the total fixed average rates of two and five years were much smaller than a month earlier.
“While the Bank of England basic rate can be celebrated by borrowers last month, lenders can move the rates in the opposite direction when SWAP rates rise.
“This can also cause that opposing tariff movements on long-term fixed versus short term, depending on the divergence of Swap rates.”
Springall said the rate gap between the average Bi- and five-year-old rates Was currently the smallest it has been since the inversion of the rates started in October 2022, when the five years was last higher than the two -year counterpart.
Springall also revealed that the number of products on the market fell by 150 options, but despite this the choice was still higher than at the beginning of 2025 and deals for people with smaller deposits were ‘abundant’.
“This Karn of mortgage offers can occur,” explained Springall, “if lenders pull deals and replace deals to be interested in the interest and the demand for borrowers.”