Mortgage rates: selected cuts follow rise in five-year average to 6%

Selected fixed mortgage rates in the UK have fallen, Moneyfactscompare.co.uk reported on 14 October 2026, offering borrowers some relief after earlier increases. Its latest update describes reductions on particular deals rather than a fall across the whole market.

The update follows the comparison website’s report on 5 October that the average five-year fixed mortgage rate had reached 6%. That figure is a market average, not the rate charged on every five-year deal.

Which mortgage rates have fallen?

Moneyfactscompare.co.uk’s 14 October news summary does not quantify the latest reductions or identify the fixed-rate terms affected. It therefore provides no new figure against which to compare the five-year average reported nine days earlier.

The availability of lower-priced borrowing had already narrowed sharply. In its 5 October report, Moneyfactscompare.co.uk said mortgage deals charging less than 5% had become exceptionally scarce, leaving borrowers with fewer options below that threshold.

The distinction between selected price cuts and an average matters when interpreting the update: the information published on 14 October does not establish that the five-year average has moved back below 6%.

From July reductions to autumn increases

Moneyfactscompare.co.uk’s coverage shows a change in direction over the summer. On 13 July, it reported the largest fall in mortgage rates in almost two years, before reporting on 10 August that rates had risen for the first time in months following renewed conflict in the Middle East.

The August report highlighted the exposure of hundreds of thousands of households approaching the end of fixed deals charging less than 3%. Moneyfactscompare.co.uk warned that those borrowers faced higher monthly repayments when their existing arrangements expired.

By 7 September, the website was reporting further upward movement in mortgage rates during the opening week of the month. The October increase in the five-year average followed that earlier evidence of rising borrowing costs.

Bank Rate had meanwhile remained unchanged. According to Moneyfactscompare.co.uk’s coverage, the Bank of England held it at 3.75% on 30 July for a fifth consecutive decision and kept it at that level again on 17 September. Those holds did not prevent the mortgage-rate increases reported by the website.

The housing backdrop was also subdued. In its 1 October coverage of the Nationwide House Price Index, Moneyfactscompare.co.uk reported that UK house price growth had halved in September. The supplied summary does not give the growth rate or the size of any monthly price movement.

Moneyfacts points to continuing affordability pressure

Moneyfactscompare.co.uk’s stated assessment on 14 October was that the selected reductions offered limited relief while affordability pressures continued to affect activity. Its position was therefore more cautious than a declaration that conditions had improved broadly for borrowers.

That assessment followed earlier evidence of weaker demand for borrowing. On 29 June, the website reported that mortgage approvals had fallen to their lowest level in two and a half years, describing prospective borrowers as cautious amid market uncertainty.

Is a November Bank Rate rise confirmed?

Moneyfactscompare.co.uk’s 17 September coverage reported expectations that the Bank of England could raise interest rates in November. That was a forecast described by the website, not an announced decision by the Bank.

The supplied coverage contains no confirmed November rate change or timetable for further mortgage reductions. It also gives no forecast for how far individual mortgage rates might move, so the reported possibility of a Bank Rate increase cannot be translated into a specific change in borrowers’ mortgage pricing.