Analysts have warned that rising mortgage rates will rein in buyers and cool the housing market.
Several UK banks reported strong mortgage demand in their third-quarter results last week, including Santander, NatWest and Lloyds.
But expectations of a sustained rise in the Bank of England base rate, from 0.1% to 1.25% by the end of 2022, has led to lenders raising their mortgage rates over the past few weeks.
The change has led to a rush by buyers for long-term mortgages at attractive rates.
