Average two-year fixed holds at 5.37% as lenders price cautiously with Bank Rate at 3.75%

The average two-year fixed mortgage sits at 5.37% across all lenders this week, with the big six closer to 4.74%, while five-year fixes average 5.48% (Mojo/Uswitch data, 24 June). Pricing has held broadly flat since the Bank of England kept Bank Rate at 3.75% on 18 June, as swap-rate volatility linked to Middle East tensions keeps lenders cautious despite earlier cutting momentum. For buyers, borrowing costs are steady rather than easing further; for sellers, it argues for realistic pricing while buyer budgets stay capped. A market holding its breath, not turning.