Easy Street Financial Services 9 Interest Rates 9 Interest Rates – April 2026 Summary
Interest Rates – April 2026 Summary
April 17, 2026

It’s been a very eventful few weeks for mortgage rates.

If you’ve been keeping an eye on the market, you’ll have seen how quickly things can change.

Mortgage Rates – What’s Happened?

At the start of this period, mortgage rates were moving upwards quite sharply.

Lenders were repricing frequently, often with very little notice.

Reports suggested that fixed rates were climbing as lenders scrambled to reprice.

We then saw a series of rate increases across the market, with major lenders including Halifax and Nationwide raising rates across their ranges.

Barclays also made further increases shortly after, as highlighted here.

This wasn’t limited to one or two lenders. It became a wider trend, with some reports showing rates increasing by as much as 0.80%.

At one point, average two-year fixed rates moved up towards 5.75%.

Why Did This Happen?

A big driver behind this was volatility in the wider economy.

Inflation remained a concern, holding around 3%, while global uncertainty added further pressure, as outlined here.

This fed into swap rates, causing them to rise.

There was also a rush from borrowers trying to secure deals before rates increased further, with borrowers scrambling to secure deals.

Signs of Stabilisation

Towards the end of this period, things started to settle.

Reports began to suggest that mortgage rates were stabilising.

Rather than widespread increases, we started to see a more mixed picture, with lenders like Barclays making both increases and reductions.

The First Signs of Rates Coming Down

More recently, we’ve started to see something more positive.

Some lenders have begun to reduce rates again.

For example:

We’ve also seen wider reductions across the market, with Santander, TSB and others making changes.

This suggests that the market may be entering the early stages of a downward trend.

What About the Bank of England?

The latest updates from the Bank of England Monetary Policy Committee suggest that policymakers are taking a cautious approach.

There are indications that there is no immediate rush to increase rates.

Our Thoughts

Over the last few weeks, we’ve effectively seen:

  • Rates rising quickly
  • Rates stabilising
  • Early signs of rates reducing

While we wouldn’t expect dramatic reductions overnight, the recent changes suggest that the upward pressure may be easing.

For borrowers, the focus should be on:

  • Securing a suitable deal when needed
  • Keeping flexibility where possible
  • Reviewing options as the market evolves


Your home may be repossessed if you do not keep up repayments on your mortgage.

Easy Street Financial Services Ltd is authorised and regulated by the Financial Conduct Authority (FCA No. 1013595).

Information correct at time of writing – April 2026.

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