Mortgage rates hit their highest level in over a year, causing demand to drop below year-ago levels

Mortgage rates rose to the highest level in over a year, causing total mortgage demand to drop below year-ago levels.

NATIONWIDE Building Society has become the first major lender to cut mortgage rates after weeks of increases across the market. The mutual has slashed rates by up to 19 basis points today. The cuts apply across its first-time buyer, home mover and remortgage ranges, with its lowest fixed rate falling to 4.52%. It comes

Experts say the rise isn't just about the higher cost of living.

Mortgage Lenders With The Best Rates This Week: Lowest Rate From Navy Federal  Forbes