This is Money Podcast Mortgage rates are spiking - how bad will it get?
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Mar 13, 2026 Rapid mortgage rate jumps tied to geopolitical inflation fears and Bank of England moves. Quick rundown of current two- and five-year rate levels and lender reactions. Practical tips on remortgaging timing and whether a two- or five-year fix suits you. Why fixing energy bills now might beat future caps. Common pension mistakes to avoid and a short deadline checklist for Nationwide Fairer Share eligibility.
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Rapid Mortgage Rate Rises Linked To Geopolitics
- Mortgage lenders are raising fixed rates rapidly because geopolitics (Iran conflict) is pushing expected inflation and delaying Bank of England cuts.
- Helen Crane lists multiple lenders hiking, some twice in days, and MoneyFacts shows two-year average moved from 4.87% to 5.10% in a week.
Mortgage Market Swings Follow Recent Rate Cutting Battle
- The current mortgage jump partly reverses an earlier aggressive rate cut battle earlier this year, so swings can be sharp and quick.
- Simon says lenders had cut rates in January and recent events simply swung the pendulum back.
Lock In Remortgage Rates Three To Six Months Early
- Do act early on remortgage options because you can lock in a new rate three to six months before your deal ends.
- Helen Crane recommends using a mortgage broker to scan lender moves and warns to compare fees and not assume your current lender is best.