Rightmove’s weekly mortgage tracker – 21/02/24
February 21, 2024
Headlines
- The average 5-year fixed mortgage rate is now 4.72%, up from 4.62% a year ago
- The average 2-year fixed mortgage rate is now 5.08%, up from 4.95% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 4.67%, down from 4.68% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.19%, down from 4.23% 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 £1,081 per month, down from £1,074 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 21st February 2024 | Lowest rate 21st February 2024 | Average rate
a year ago |
|
95%
|
2 year fixed | 5.79% | 5.20% | 5.64% |
|
95%
|
5 year fixed | 5.35% | 4.84% | 5.15% |
|
90%
|
2 year fixed | 5.31% | 4.89% | 5.36% |
|
90%
|
5 year fixed | 4.86% | 4.48% | 4.89% |
|
LTV (loan to value) |
Term |
Average rate 21st February 2024 | Lowest rate 21st February 2024 | Average rate
a year ago |
|
85%
|
2 year fixed | 5.08% | 4.74% | 5.02% |
|
85%
|
5 year fixed
|
4.67% | 4.32% | 4.68% |
|
75%
|
2 year fixed |
4.90% | 4.40% | 4.73% |
|
75%
|
5 year fixed
|
4.61% | 4.14% | 4.41% |
|
60%
|
2 year fixed
|
4.50% | 4.38% | 4.55% |
|
60%
|
5 year fixed |
4.19% | 3.99% | 4.23% |
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 £224,815, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,081 per month if repaying over 25 years, compared with £1,074 per month a year ago.
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