Mortgage rates fall at fastest pace in two years amid Iran volatility

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleMortgage rates have seen the sharpest decline in months (PA Archive)Fixed mortgage rates in the UK have experienced their fastest decline since October 2024, with average two-year and five-year fixes both falling to 5.52 per cent in June. This reduction is linked to a de-escalation of hostilities in the Middle East, which had previously caused rates to rise significantly. The market has also seen a reversal of the unusual trend where two-year fixed rates were more expensive than their five-year counterparts. Experts caution that renewed geopolitical tensions, upcoming inflation figures, and potential Bank of England decisions could slow or reverse these positive trends. Borrowers are advised to secure mortgage deals promptly, given the market's volatility and the potential for rates to change quickly. In fullMortgage rates fall at fastest pace in almost two years – but experts have one warningMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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