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Looking for fresh comments on how the oil price surge could impact mortgage rates for The I Paper

Journalist: Laura Purkess, Freelance

ended 09. March 2026

Hi all, looking for some fresh commentary on how the spike in oil and gas prices / the confict in the Middle East is impacting mortgage rates and what you're expecting over the next few weeks, plus any advice for homebuyers / anyone remortgaging. Thanks very much

2 responses from the Newspage community

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Editor
Mike StatonVerified
Director at Staton Mortgages
Oil over $100, Middle East kicking off, swap rates flying up… and people are shocked mortgage rates are rising again.
This is exactly how it always happens. Oil up.
,inflation up, swaps up, lenders reprice. No conspiracy, no surprise, just markets doing what markets do.

The Bank of England might want to hold rates, but the markets don’t ask permission.
If this carries on, expect 5%+ fixes becoming the norm again over the next few weeks
If your a buyer or homeowner wanting to remortgage, Stop waiting for the “perfect time”, it doesn’t exist. The people who sit on the fence always end up fixing higher.
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David BelleVerified
Founder and Trader at Fink Money
UK five-year swap rate (important factor in pricing mortgages) is now up to its highest level in a year, back above 4%.

This is a direct cause of higher inflation expectations.

It is likely this will remain pretty sticky while this conflict goes on, and the average Brit should become an expert in shipping to understand when the Strait of Hormuz will be back to normal!