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Moneyfacts.co.uk yesterday revealed that this was an increase on 6.11 percent on Thursday and 6.07 percent on Wednesday. The average five-year fixed-rate mortgage also rose to 6.07 percent, having been 6.02 percent on Thursday and 5.97 percent on Wednesday.
Across the market, the choice of mortgage products is gradually increasing after contracting sharply last week.
Moneyfacts counted 2,533 products yesterday, up from 2,430 on Thursday. This is still down from 3,961 on the day of the recent mini-budget.
Rachel Springall, a finance expert at Moneyfacts, said: “Consumers must carefully consider whether now is the right time to buy a home or to wait and see how things change in the coming weeks.”
Property expert Jonathan Rolande said: “The rental market is still very strong. It is likely that it will be tenants who bear the brunt of the rate rise via increased rents.”
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