Analysts noted that 30-year fixed-rate mortgages rose above 8 percent in May, more than a point above the January average.

With homeowners insurance, their mortgage rose to $2,400.

Even though mortgage and corporate rates are rising, they have not yet reached the high points of the 1994-95 Fed tightening.

The average adjustable-rate mortgage rose to 7.82 percent, from 7.79 percent.

Long-term mortgages with a fixed rate rose as high as 10.53 percent in January, for example.

Her mortgage rose from £89,000 to £223,000 when she moved to a new flat.

The average adjustable-rate mortgage rose to 8.16 percent, from 8.06 percent the previous week, it said.

Adjustable-rate mortgages have risen steadily since the spring and now are nearly as high as before the October 1987 stock market crash.

These variable-rate mortgages rise or fall with a particular financial index.

In March 2009 mortgages issued by the bank rose by 70%, compared to the previous month.