Jump in five-year swap rate pushes up UK borrowing costs

The five-year sterling swap, the benchmark for many UK commercial real estate property loans, has risen steadily in the last three weeks, pushing up costs for borrowers. According to hedging specialist JC Rathbone Associates, the five-year swap was only 0.46 percent on 27 September but had risen to 0.75 percent yesterday (17 October). The climb […]