Three month Libor only went up 0.02% on Friday and so the rate of increase has slowed dramatically, but the rate is now up to 6%, a rise of 0.3% on the week.
Two to five year gilt yields were up on Friday by a whopping 0.22% and swap rates are likely to have gone up by a similar amount. This would take 2 year swaps up to about 5.7%, a rise of 0.33 % on the week and 0.5% up from last Monday's closing rates.
Therefore expect a raft of increases, probably of around 0.25%, in the cost of fixed rate mortgages next week and smaller rises in tracker rates.
