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Story perspectives

UK Mortgage Rates Soar Amid Market Uncertainty

3/23/2026

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Story summary
  • UK homeowners face rising mortgage rates and a shrinking selection of deals.
  • Despite a pause in US-Iran tensions, the Bank of England is expected to raise rates.
  • The average two-year fixed rate has risen to 5.43%, the highest since February 2025.
  • Analysts say four rate hikes this year may be exaggerated, while Goldman Sachs expects the base rate to stay at 3.75% through 2026.