The average costs of 2-year and 5-year fixed rate mortgages have continued to climb as mortgage availability increases.
For a 2-year fixed rate the average price is 6.3% while for 5-year fixed rate products the average is now 6.19%, according to Moneyfacts.
As of this morning there were 2,905 mortgage products available, that’s over a 1,000 less than there were on the morning of the mini-Budget (23rd September).
This number is slowly climbing back up following a mass pulling of products as lenders raced to reprice following market volatility in the wake of the Budget.
This morning the Bank of England was forced to double its daily bond buying budget to £10bn amid fears for pension funds.
Despite having a £65bn budget for bond buying the central bank has only bought around £5bn so far. However, it has said it will go further if needed.
