Why do mortgage rates today in the UK react to US moves?

Global investors price government bonds and mortgage-backed assets together. When US yields shift on jobs or inflation data, it can nudge UK gilt yields and swaps. Lenders then adjust fixed deals. The link is not perfect day to day, but broad trends in US rates often influence the direction of UK pricing.

Is now a good time to refinance if I fixed above 6.5%?

Run the numbers. Compare your current payment with new quotes, include fees, and calculate the break-even in months. If you can save even after costs within your expected hold period, refinancing can make sense. If your deal ends soon, watch daily repricing and consider a lock if a quote matches your budget.

How often can mortgage rates change during data-heavy weeks?

Lenders can reprice more than once a day if markets move. In quiet periods, quotes may hold for several days. Around major releases, such as jobs or inflation data, expect faster adjustments. Submitting a complete application and securing a lock can reduce the risk of losing a rate you can afford.

What is the 2026 mortgage forecast for UK buyers?

Base case is near 6% through much of 2026, with room to dip toward 5.5% if inflation cools and central banks cut rates. Progress may be gradual. Plan for a range, stress-test your budget at higher levels, and be ready to lock when a deal meets your affordability and timeline.

Global Market Insights

Mortgages Today, February 1: 30-Year Rates Hover Near 6% Ahead of Data

ByHuzaifa Zahoor February 1, 2026February 1, 2026

Mortgage rates today are steady near 6%, with Zillow’s average at 5.91% and market gauges flat into the weekend. For UK buyers and remortgagers, this stability matters because global bond moves flow into gilt yields and fixed-rate pricing. We explain how 30-year fixed mortgage trends guide sentiment, what the 2026 mortgage forecast implies, and how to plan decisions now. Use our quick payment math, watch list, and timing tips to make smart moves while mortgage refinance rates stabilise.