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Average mortgage rates fly over 5% as market adjusts

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Adam French, Head of Consumer Finance 01603 476154 Email Adam
11/03/2026
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Average mortgage rates fly over 5% as market adjusts

Average mortgage rates fly over 5% as market adjusts

Moneyfacts Average Mortgage Rates

  • The average 2-year fixed residential mortgage rate today (11 March) is 5.01%. This is up from 4.84% on Friday 6 March 2026. Now at its highest since 6 August 2025 (5.01%).
  • The average 5-year fixed residential mortgage rate today (11 March) is 5.09%. This is up from 4.96% on Friday 6 March 2026. Now at its highest since 26 June 2025 (5.09%).
  • The Overall Average Moneyfacts Mortgage rate has opened today (11 March) at 5.04%. This is up from 4.91% on Friday. Now at its highest since 7 August 2025 (5.04%).

Mortgage product withdrawals

  • Over the last 48 hours 472 residential mortgage products were withdrawn from the market. This is around 6.5% of the total residential mortgage market, which now stands at 7,164 available products.
  • It is the biggest fall in available mortgage product numbers since the aftermath of the mini-Budget in September 2022.
  • The biggest single day fall of residential mortgage products on record was the withdrawal of 935 residential mortgage products on 27 September 2022. This was a little over 25% of available mortgage products at that time.

Moneyfacts Average Mortgage Rates

  • The average 2-year fixed residential mortgage rate today (11 March) is 5.01%. This is up from 4.84% on Friday 6 March 2026. Now at its highest since 6 August 2025 (5.01%).
  • The average 5-year fixed residential mortgage rate today (11 March) is 5.09%. This is up from 4.96% on Friday 6 March 2026. Now at its highest since 26 June 2025 (5.09%).
  • The Overall Average Moneyfacts Mortgage rate has opened today (11 March) at 5.04%. This is up from 4.91% on Friday. Now at its highest since 7 August 2025 (5.04%).

Mortgage product withdrawals

  • Over the last 48 hours 472 residential mortgage products were withdrawn from the market. This is around 6.5% of the total residential mortgage market, which now stands at 7,164 available products.
  • It is the biggest fall in available mortgage product numbers since the aftermath of the mini-Budget in September 2022.
  • The biggest single day fall of residential mortgage products on record was the withdrawal of 935 residential mortgage products on 27 September 2022. This was a little over 25% of available mortgage products at that time.

Adam French, Head of Consumer Finance at Moneyfactscompare.co.uk, said:

“Recent days have been some of the most turbulent in the UK mortgage market since the aftermath of the September 2022 mini-Budget. In the last 48 hours almost 500 residential mortgage products have been withdrawn as lenders reacted to rapidly rising swap rates. However, the scale is nowhere near the shock seen in late September 2022 when 935 products, which accounted for more than a quarter of the market at the time, disappeared in a single day.

“Many of these deals are likely to return within the next few days and weeks as lenders adjust their pricing to higher rate expectations. Moneyfacts average mortgage rates have also jumped considerably higher, with the typical two-year fixed rate now at 5.01% for the first time since August 2025 and the average five-year fix surging past 5% to reach 5.09%.

"It’s unwelcome news for borrowers, as the prospect of falling mortgage rates has quickly given way to rate rises. How far they could go is now heavily dependent on how global markets and inflation expectations evolve as conflict in the Middle East unfolds.”

Adam French, Head of Consumer Finance at Moneyfactscompare.co.uk, said:

“Recent days have been some of the most turbulent in the UK mortgage market since the aftermath of the September 2022 mini-Budget. In the last 48 hours almost 500 residential mortgage products have been withdrawn as lenders reacted to rapidly rising swap rates. However, the scale is nowhere near the shock seen in late September 2022 when 935 products, which accounted for more than a quarter of the market at the time, disappeared in a single day.

“Many of these deals are likely to return within the next few days and weeks as lenders adjust their pricing to higher rate expectations. Moneyfacts average mortgage rates have also jumped considerably higher, with the typical two-year fixed rate now at 5.01% for the first time since August 2025 and the average five-year fix surging past 5% to reach 5.09%.

"It’s unwelcome news for borrowers, as the prospect of falling mortgage rates has quickly given way to rate rises. How far they could go is now heavily dependent on how global markets and inflation expectations evolve as conflict in the Middle East unfolds.”

Notes to editors

You are welcome to use part or all of this press release, so long as we are sufficiently sourced. We would appreciate a link back to Moneyfactscompare.co.uk.

Pioneering financial comparison technology for over 35 years, Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, banking, life, pension and investment products in the UK.

Moneyfactscompare.co.uk is the financial product price comparison site, launched as Moneyfacts.co.uk in 2000 and rebranded to Moneyfactscompare.co.uk in 2023, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfactscompare.co.uk shows whole of market data regardless of commercial bias, showing consumers a true picture of the best products based on the criteria they select.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

Notes to editors

You are welcome to use part or all of this press release, so long as we are sufficiently sourced. We would appreciate a link back to Moneyfactscompare.co.uk.

Pioneering financial comparison technology for over 35 years, Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, banking, life, pension and investment products in the UK.

Moneyfactscompare.co.uk is the financial product price comparison site, launched as Moneyfacts.co.uk in 2000 and rebranded to Moneyfactscompare.co.uk in 2023, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfactscompare.co.uk shows whole of market data regardless of commercial bias, showing consumers a true picture of the best products based on the criteria they select.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

Contact Us If you're looking for extra comment, a chart or more information, then please give us a call. We are always more than happy to help.
Adam French Head of Consumer Finance
01603 476154
Email Adam
Rachel Springall Finance Expert
01603 476210
Email Rachel
Caitlyn Eastell Personal Finance Analyst
01603 476169
Email Caitlyn
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©2026 Moneyfacts Group plc. All Rights Reserved. Use of this Website constitutes acceptance of the Company’s General Terms of Use & Privacy Policy. Moneyfacts Group plc is registered in England and Wales, company no. 4063110. Registered office: Moneyfacts House, 66-70 Thorpe Road, Norwich, NR1 1BJ. Moneyfacts, MONEY £ ACTS and INTEREST are Registered Trademarks.