11th March 2026
Mortgage rates are rising today, and many fixed‑rate deals are being withdrawn at speed across the UK. Lenders have pulled nearly 500 mortgage products in the past 48 hours, and average fixed rates have now surged above 5%, marking the sharpest disruption since the 2022 mini‑budget.
What's happening to mortgage rates today?
Average 2‑year fixed rate: now around 5.01%, up from 4.84% just days ago.
Average 5‑year fixed rate: about 5.09%.
Rates are rising because:
Swap rates have jumped, increasing lenders' funding costs.
Market volatility linked to global events is pushing lenders to reprice quickly.
Are fixed deals being withdrawn?
They are disappearing and at a rapid pace.
472 residential mortgage products have been pulled in the last 48 hours.
This is roughly 6.5% of the entire mortgage market disappearing almost overnight.
Lenders including HSBC, Nationwide, Santander, Barclays, Halifax, Lloyds, NatWest, and Coventry Building Society have all raised rates or withdrawn deals recently.
Brokers expect more withdrawals and rate hikes in the coming days.
What this means
If your fixed rate ends soon, expect fewer options and higher pricing than even a week ago.
If you're shopping for a new deal, brokers are advising to lock in a rate quickly before further withdrawals.
If you’re remortgaging, prepare for higher monthly payments compared with previous ultra‑low fixed deals.