HSBC joins Halifax, NatWest and Leeds in week-long wave of fixed mortgage rate cuts
HSBC's latest cuts took effect on 3 June, the newest in a week-long wave that has also seen Halifax, Lloyds, Coventry, NatWest and Leeds trim fixed rates. Swap rates have eased as markets settle on Bank Rate holding at 3.75% on 18 June rather than rising. For buyers, monthly budgets stretch a little further; for sellers, firmer affordability supports demand. It is a drift lower, not a return to the cheap rates of recent years.
What this means for…
Buyers· 3/3
Sellers· 2/3
Wider market· 2/3
Each axis scored 1 (minor) to 3 (major). Total 7/9.
More Rates commentary
19 Oct 2026 · Impact 6/9
Average two-year fix rises to 5.93% as mortgage deals stay on sale for only 13 days, Moneyfacts finds
15 Oct 2026 · Impact 4/9
Barclays raises six fixed rates by up to 22bps, mostly for existing customers, while trimming 90% LTV purchase fixes by up to 10bps
14 Oct 2026 · Impact 5/9
NatWest and HSBC cut selected fixed mortgage rates from 15 October, with NatWest's 90% LTV five-year fix down to 5.39%
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