Nationwide said: Swap rates, which are a key factor in mortgage pricing, have been rising and as a result we need to increase selected rates to ensure our rates remain sustainable.
Rachel Springall, a finance expert at Moneyfacts, said: Borrowers searching for a new mortgage deal may be delighted to know fixed mortgage rates continued their downward trend, with the average two-year fixed rate dropping by its biggest margin since December 2022. Those borrowers who have waited patiently in recent months to re-finance, or indeed are preparing for when their mortgage deal expires, would be wise to review rates, as lenders are closely monitoring the volatile swap rate market, which tends to influence fixed-rate pricing.
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