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Mortgage Rates Surge Amid Middle East Crisis, Experts Warn

3/5/2026

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Summary

Story summary

HSBC, Nationwide, and Coventry Building Society raised fixed mortgage rates amid the Middle East crisis, with increases expected.
Experts warn the conflict could trigger an energy price shock and raise UK inflation.
This could prompt the Bank of England to raise interest rates.
The uncertainty has weighed on money market swap rates.
In February, Taylor Wimpey reported a 54% drop in profits and cut its dividend, as UK construction declined.

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Story summary

HSBC, Nationwide, and Coventry Building Society raised fixed mortgage rates amid the Middle East crisis, with increases expected.
Experts warn the conflict could trigger an energy price shock and raise UK inflation.
This could prompt the Bank of England to raise interest rates.
The uncertainty has weighed on money market swap rates.
In February, Taylor Wimpey reported a 54% drop in profits and cut its dividend, as UK construction declined.