Rightmove’s weekly mortgage tracker 01/11/23
November 1, 2023
Headline stats
- The average 5-year fixed mortgage rate is now 5.38%, down from 6.02% a year ago
- The average 2-year fixed mortgage rate is now 5.84%, down from 6.24% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 5.48%, down from 6.01% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.95%, down from 5.80% a year ago
- The average monthly mortgage payment on a typical first-time buyer type property when taking out an average five-year fixed, 85% LTV mortgage, is now £1,168 per month, down from £1,232 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 31st October 2023 | Lowest rate 31st October 2023 | Average rate
a year ago |
|
95%
|
2 year fixed | 6.26% | 5.99% | 6.60% |
|
95%
|
5 year fixed | 5.77% | 5.59% | 6.23% |
|
90%
|
2 year fixed | 6.09% | 5.70% | 6.41% |
|
90%
|
5 year fixed | 5.55% | 5.15% | 6.17% |
|
LTV (loan to value) |
Term |
Average rate 31st October 2023 | Lowest rate 31st October 2023 | Average rate
a year ago |
|
85%
|
2 year fixed |
6.00% |
5.54% |
6.26% |
|
85%
|
5 year fixed
|
5.48% |
5.00% |
6.01% |
|
75%
|
2 year fixed |
5.61% |
5.24% |
6.06% |
|
75%
|
5 year fixed
|
5.18% | 4.74% | 5.85% |
|
60%
|
2 year fixed
|
5.40% | 5.14% | 6.02% |
|
60%
|
5 year fixed |
4.95% | 4.64% | 5.80% |
Rightmove can provide average monthly mortgage payments based on the latest available asking price and mortgage rate data. For example, the average monthly mortgage payment on a first-time buyer type property which is currently £224,263, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,168 per month if repaying over 25 years, compared with £1,232 per month a year ago.
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