Rolling coverage of the latest economic and financial newsUK mortgage rates have climbed again today, as lender pull their cheaper deals from the market.Data provider Moneyfacts reports that the average 2-year fixed residential mortgage rate today is 5.30%, up from 5.28% on Tuesday.Average 2-year fix has risen from 4.83% at the start of March to 5.30% today. It’s highest since February 2025.Average 5-year fix has risen from 4.95% at the start of March to 5.35% today. It’s highest since August 2024.“The rapid disappearance of sub-4% mortgage deals shows just how quickly market sentiment has shifted. Nine days ago (9 March), well-positioned borrowers could choose from hundreds of fixed rate deals priced below 4%, but that has now dwindled to just two.“The financial effects of ‘Trumpflation’ are already hitting home as the conflict in Iran is driving inflation concerns. That has forced markets to rethink the outlook for rate cuts, pushing borrowing costs higher and prompting lenders to pu...