Aaron Strutt, of broker Trinity Financial, said: “Hopefully this will be the end of the rate rises for a while, but there are certainly no guarantees.
“Multiple small mortgage price rises add up and ultimately deter people from buying homes.”
Potential buyers and borrowers are being urged to seek advice and plan early.
Latest data from the Bank of England, external shows that more buyers are taking loans with smaller deposits, leaving them more exposed to rate changes.
The proportion of mortgages where the loan is more than 90% of the value of the home has reached its highest level in 18 years.
The latest moves on mortgage rates will be a further blow to those who are coming off much cheaper five-year deals.
However, rates are still some way short of their peaks of recent years, and how much people can borrow, and at what rate, depends considerably on their circumstances.
Moneyfacts said that, as of Tuesday, the average rate on a new, two-year deal was 5.65%. On a five-year product, the average was 5.70%.
