When setting mortgage rates, lenders are heavily influenced by a financial market measure called "swap rates" which reflect the market's view of which direction the Bank of England's interest rates will go. A Nationwide spokesperson said the lender keeps its mortgage rates "under continual review".

Fifteen-year mortgage rates hit a one-month high today. The current average mortgage rate on a 30-year fixed mortgage is 6.17%, compared to 6.03% a week earlier, according to the Mortgage Research Center.