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UK two-year fixed mortgage rates close to post ’mini-budget’ peak

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Published Mon, Jul 10, 2023 · 04:16 PM
    • Average two-year fixed rates are now at 6.63 per cent, up from 6.54 per cent last Friday and a fraction below their peak of 6.65 per cent on Oct 20.
    • Average two-year fixed rates are now at 6.63 per cent, up from 6.54 per cent last Friday and a fraction below their peak of 6.65 per cent on Oct 20. PHOTO: BLOOMBERG

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    A KEY mortgage rate in Britain has risen to within a whisker of a high struck late last year after former prime minister Liz Truss’ “mini-budget”, figures from data provider Moneyfacts indicated on Monday (Jul 10).

    Average two-year fixed rates stood at 6.63 per cent, up from 6.54 per cent last Friday and a fraction below their peak of 6.65 per cent on Oct 20.

    Mortgage rates have climbed sharply in recent weeks as investors increased their bets on how high the Bank of England will raise interest rates to fight high inflation. REUTERS

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