Multiple lenders, including Barclays, NatWest, HSBC, The Co-Operative Bank, and Accord, have announced increases in their mortgage rates. These hikes follow an upward trend in swap rates, which underpin fixed-rate mortgages. Experts predict further rate increases, impacting both new borrowers and those nearing the end of fixed-rate deals. The average two-year fixed residential mortgage rate has slightly decreased, while the average five-year rate remains stable. Despite the dip in the two-year rate, monthly repayments have significantly increased compared to two years ago due to higher interest rates.