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HomeSourcesthesun.co.ukMortgage misery for millions as interest rates hit 15-year high

Mortgage misery for millions as interest rates hit 15-year high

MILLIONS are set for more mortgage misery as interest rates have hit a 15-year high today.

The average rate on a two-year fixed mortgage has increased to 6.66%, the highest its been since 2008.

Figures released by data site MoneyFactsCompare have revealed that the rate has now surpassed the previous peak of 6.65% last October.

This was during the aftermath of the chaotic mini-Budget.

It means that this is the highest rate for a two-year deal in 15 years.

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