Daily UK Money Briefing · 3 May 2026 · 6 min

Mortgage Rates Rise While the Bank Holds: The Swap Rate Story

UK mortgage rates climbed sharply in May even as the Bank of England held its base rate at 3.75% — and understanding why reveals the hidden pressure building on borrowers. This episode unpacks swap rates, oil prices, and what the fix-or-float decision really looks like right now.

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Mortgage Rates Rise While the Bank Holds: The Swap Rate Story

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What's covered

Mortgage rates went up this month. The Bank of England didn't move.

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