Rubbish Check
Daily Mail Money · 5 October 2026
source“Five-year fixed mortgages break 6% barrier as lenders keep pushing rates higher”
R2/ 10
Lightly altered
Rubbish Rating — 1 = base fact, 10 = pure rubbish
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In short
Rubbish Talk rates the Daily Mail's claim that five-year fixed mortgages have "broken 6%" a 2/10 because Moneyfacts' own rate-watch data confirms the average five-year fix hit exactly 6.00%, its highest since September 2023, with no exaggeration in the framing.
The Verdict
Lightly altered, close to base fact. The headline states a real, specific number from the named primary source (Moneyfacts) and backs it with a concrete pattern of hikes across six major lenders. The only mild drift is the absence of the two-year rate (5.98%, almost as significant) from the headline, and the omission that sub-5% variable/tracker deals are still widely available, but neither distorts the core claim.
What actually happened
Moneyfacts' rate-watch recorded the typical five-year fixed mortgage rate reaching 6.00%, its highest level since September 2023, while two-year fixed rates reached 5.98%. The rises follow repeated hikes from Barclays, HSBC, Lloyds, Nationwide, NatWest, Santander and TSB amid fears the Bank of England will raise, rather than cut, the base rate due to inflation pressure from Middle East conflict and rising bond yields.
Key facts
- Five-year fixed average: 6.00%, highest since September 2023 (Moneyfacts).
- Two-year fixed average: 5.98%, highest since December 2023 (Moneyfacts).
- Sub-5% deals: fell from roughly 1,500 to 9 (excluding Northern Ireland-only deals) since early September.
- Lender activity: Barclays hiked rates four times; HSBC, Lloyds, Nationwide, NatWest, Santander and TSB each hiked three times.
- Cost impact: a £250,000, 25-year two-year fix is now £2,016/year more expensive than one taken in February; a five-year fix is £1,896/year more.
- Bank of England base rate: held at 3.75% in September, sixth consecutive hold since December 2025; markets now pricing in hikes toward 4.75-5% within a year. Other outlets ran the same Moneyfacts milestone with comparable framing: one described it as homeowners being "dealt another mortgage blow as the average five-year fixed rate hit six per cent for the first time in three years", while another reported plainly that the rate "reached 6% for the first time in three years, according to financial information website Moneyfacts". The Mail's headline sits closer to the neutral end of that spread.
What to watch for
- Watch whether two-year rates (5.98%) cross 6% next, which would make the headline's narrower five-year focus look dated within days.
- The next Bank of England decision is the real driver: a hike (not just a hold) would validate the "pushing higher" framing further; a surprise hold-and-soften tone from the MPC would undercut it.
- Track how many of the remaining nine sub-5% deals survive the next lender repricing round, a clearer signal than the headline number alone.
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.
