Fixed mortgage rates have rebounded after a brief dip, according to data from the Financial Information website.
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The five-year fixed rate also rose to 6.32 percent from 6.31 percent on Thursday.
On Wednesday, it emerged that inflation had eased faster than expected, offering a glimmer of hope for stressed mortgage borrowers.
The Office for National Statistics said the consumer price index It fell to 7.9 percent last monthdown from 8.7 percent in May.
The Bank of England uses key rate hikes to cool inflation.
The bank is still expected to raise interest rates – currently 5% – at its next meeting on August 3 as it battles to bring inflation back to its 2% target.
But experts have said a larger-than-expected fall in inflation could prompt the Bank’s policymakers to opt for a smaller hike of 0.25 percentage points rather than a 0.5 percentage point increase.
Source by [Sky News]
