Thisismoney.co.uk - Households urged to lock in a new mortgage deal now after Barclays ups rates and gilt yields hit 27-year high
Households are being urged to lock in a new mortgage deal as soon as possible, after Barclays announced it's upping rates. The mortgage lender is increasing rates across a number of its best buy deals by 0.1 percentage points from tomorrow.
'Swap rates have been going up so we have been expecting some rate increases,' Aaron Strutt of mortgage broker Trinity Financial thisismoney.co.uk.
'High gilt yields and rising government borrowing costs are clearly not good news and they could easily lead to higher mortgage rates.
'For the moment there have not been significant price hikes but it's probably worth locking in a mortgage rate if you are buying somewhere or due to remortgage, to try and keep away from any market turbulence.'
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