The average mortgage rate for a five-year fixed deal has risen to 6.01%, according to a financial information company.
Meanwhile, the average two-year fixed rate mortgage has increased to 6.47%, Moneyfacts said.
The previous average for a five-year rate was 5.97% on Monday, while the two-year deal was 6.42%.
A five-year fixed deal is at a high not seen since 21 November – as the market reeled from the botched mini budget under Liz Truss’s government.
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The average rate for a two-year fix went over 6% about two weeks ago.
Mortgage rates have been rising significantly since May when inflation data showed the rate of price rises was not coming down as quickly as expected.
That led markets to expect the Bank of England would raise the base rate interest rates higher than previously thought, in its efforts to bring inflation down to 2%. Lenders priced the expected rise in to the mortgages they have on the market, meaning people are being offered higher mortgage rates when their existing fixed rate mortgage ends.
The current Bank of England base interest rate was hiked to a shock 5% last month in the way of the stubbornly high inflation data.
