Average shelf life of a mortgage is just two weeks, says Moneyfacts

The average “shelf life” of a mortgage has fallen to just two weeks – the shortest period seen in more than two years – according to a financial information website.

By the start of March, mortgage products were typically sitting on the market for 14 days before being withdrawn, Moneyfacts found.

It is the shortest period recorded since the start of August 2023, at 13 days.

Average mortgage rates have recently flown past the 5% mark, and Moneyfacts said the average, two-year, fixed-rate mortgage on the market on Monday morning was the highest since April 2025, while the average five-year deal was at its highest since February 2025.

The average, two-year, fixed, homeowner mortgage rate on the market on Monday morning was 5.20%, jumping from 5.10% on Friday last week.

The average, five-year, fixed, homeowner mortgage rate on Monday morning was 5.25%, up from 5.19% on Friday last week.

Evan in the aftermath of the mini-budget in 2022 under former prime minister Liz Truss, which spooked financial markets, the average shelf life of a mortgage was slightly longer, at 15 days.

However, mortgages have not disappeared in recent weeks as fast as they did in the aftermath of the mini-budget.

On Friday last week, Moneyfacts said at least 530 homeowner mortgage deals have vanished from the market since Monday March 9, representing about 7.5% of deals.

But the biggest single day fall for residential mortgages recorded by Moneyfacts was the withdrawal of 935 products on September 27 2022, equating to a little more than 25% of the deals available at the time.

In recent days, lenders have been scrambling to increase their mortgage rates and withdraw some products amid changing expectations in the financial markets following the conflict in the Middle East. Swap rates, which are used by lenders to price mortgages, have been increasing.

Rachel Springall, a finance expert at Moneyfacts, said: “Since this data was captured, there has been a notable shift in swap rates, amid the unrest seen in the Middle East.

“It is worth noting that the average shelf life of a mortgage has not been this low for over two years.”

The Bank of England is due to announce its next base rate decision on Thursday, with many economists expecting the rate to remain unchanged at 3.75%, rowing back from previous expectations of a cut.

Ms Springall added: “The general optimism heading into 2026 for the market might have suffered a bit of a setback, as it is looking incredibly unlikely that the Monetary Policy Committee will favour a cut to the Bank of England base rate.

“The reason rests on the uncertainty surrounding tensions in the Middle East.”

But she said that borrowers who are sitting on a standard variable rate (SVR), which may happen when an initial mortgage deal ends, could still potentially make savings by taking out a new deal.”

She said: “The outlook might look a bit bleak for borrowers right now, but as we have experienced before, a short-term spike in market volatility can heal and interest rates are still far lower than they were a couple of years ago.”