Average five-year mortgage rate hits 6% for first time in three years

BBC News reports that the cost of a new fixed-rate mortgage has been rising in recent weeks as lenders face higher costs.

The story is also being covered by The Guardian. The Guardian adds: Banks and building societies raise prices as turmoil in bond markets increases expectations of base rate rise The average cost of a five-year fixed-rate mortgage has hit the 6% barrier for the first time in three years, as jitters in the money markets make the loans more expensive for lenders to offer.

This business story centres on the United Kingdom.

Why it matters

Moves like this are watched by investors, employers and consumers because of their potential effect on markets and the wider economy. It is being reported by more than one news organisation.

Key details

Location

United Kingdom · Europe

Reported by

BBC News and The Guardian

First reported

5 Oct 2026, 15:24 IST

Key names

Moneyfacts

Section

Business

Sources

This is an independent summary. Read the full, original reporting from the publishers:

• BBC NewsAverage five-year mortgage rate hits 6% for first time in three years 5 Oct, 15:24
• The GuardianAverage five-year fixed mortgage rate hits 6% for first time in three years 5 Oct, 17:09

Read the full story at BBC News ↗

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