Home buyers warned of 'bumpy ride' as mortgages could hit 3-year high by April 30

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Home buyers are being braced to prepare "for a bumpy ride" as mortgage interest rates increase once again. NatWest has announced it will raise mortgage rates by a further 0.28% sparking warnings of potential 6% rates by the end of April. Swap rates, the amount a lender agrees to pay a financial institution in return for funds, have risen by around 4.15% to 4.70% since the start of the Iran war. This has already had an effect on mortgage rates which have increased sharply over recent weeks. The