Rubbish Check
Guardian Business · 17 September 2026
source“UK mortgage rate hits highest since 2023 as Bank of England prepares to announce interest rate decision, business live”
R2/ 10
Lightly altered
Rubbish Rating — 1 = base fact, 10 = pure rubbish
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In short
Rubbish Talk rates the Guardian's live-blog headline that UK mortgage rates hit their highest since 2023 ahead of the BoE decision a 2/10 because the figure matches the Moneyfacts data cited in the same piece and the causal link implied by "as" is loose but not false.
The Verdict
Lightly altered. The mortgage-rate figure is exact and correctly attributed, and the headline avoids claiming the Bank caused the jump, it only places the two stories side by side. The one soft spot is that "as" nudges readers toward linking rising mortgages to the Bank's looming decision, when the piece itself explains the real driver was rising government bond yields, not BoE policy.
What actually happened
Moneyfacts data reported in the live blog showed the average 5-year fixed residential mortgage rate had jumped to 5.87% that day, up from 5.81% the previous day, and the highest rate since 6 November 2023. The article attributes this to the recent increase in government bond yields prompting lenders to hike borrowing costs, separately from the Bank of England, which later that day left UK interest rates on hold, maintaining Bank Rate at 3.75% in a 6-3 vote.
Key facts
- 5-year fixed mortgage: 5.87% today vs 5.81% the day before, highest since 6 November 2023 (Moneyfacts, via article).
- 2-year fixed mortgage: 5.83% today vs 5.76% the day before (Moneyfacts, via article).
- BoE decision (announced after this headline was published): Bank Rate held at 3.75%, MPC vote 6-3, three members wanted a 0.25pp hike to 4%.
- Money markets had priced a 76.5% chance of "no change" before the decision, per the blog's live commentary.
- Driver named in the text: rising government bond yields, not the BoE rate itself.
What to watch for
Watch whether follow-up coverage keeps conflating "BoE holds rates" with "mortgages get pricier", when the two are moving on different mechanisms (gilt yields vs Bank Rate). Also watch Moneyfacts' next daily print: if 5-year fixed rates keep climbing past 5.87% while the Bank stays on hold, that will confirm the yield story and further separate it from BoE policy.
About this scoreThe R-Score is Rubbish Talk's editorial opinion on how far a headline's framing sits from what the underlying facts support. It is a judgement about presentation and emphasis, not an allegation that any outlet has acted dishonestly. Every figure we rely on is linked under Receipts so you can check it yourself.
