Mortgage Rate Warning as Deals Disappear Within Days Amid Market Volatility
Moneyfacts said lenders are repricing or pulling offers as swap-rate swings push average new mortgage rates to 5.83%.
- In September, the average mortgage deal remained on the market for just 13 days, according to new data from Moneyfacts, reflecting rapid turnover in an exceptionally volatile sector.
- Economic uncertainty linked to the war in the Middle East has affected swap rates, which determine the cost of funding fixed-rate mortgages for lenders. This forces frequent repricing or withdrawal of products.
- Average new mortgage rates reached 5.83% in October, up from 5.55% in September. For borrowers with a 10% deposit, the two-year fixed rate climbed to 6.15%.
- Adam French, head of consumer finance at Moneyfacts, called it 'the most challenging mortgage market in modern records.' He said, "Global uncertainty is making it hard to act with confidence – for many borrowers it is more a case of luck than judgement."
- Ian Harris, president of NAEA Propertymark, advises borrowers to seek advice early, noting that many lenders allow securing a new deal three to six months before an existing one ends. This can provide insurance against further rate rises.
24 Articles
24 Articles
The Independent
The Independent (US)UK mortgage deals disappear at fastest pace on record
Mortgage deals are being pulled after less than two weeks
Mortgage deals lasting just 13 days as market faces sustained volatility - Credit Connect
Latest data from Moneyfacts shows the average product shelf-life fell to just 13 days in October, down from 14 days in September, as swap-rate fluctuations prompted lenders to reprice or withdraw products repeatedly. However, the figure remains well above the record low of just eight days recorded in April, following the initial impact of the US-Iran…
Mortgage product shelf-life falls to 13 days in October
The average shelf-life for mortgage products fell to 13 days in October, down from 14 days in September, according to Moneyfacts data. For 2026 as a whole, mortgage product shelf-life has averaged just 15 days, marking the shortest annual average on record as lenders respond to volatile swap rates.
Coverage Details
Bias Distribution
- 82% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
