Rightmove’s Weekly Mortgage Tracker

March 20, 2024
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Mortgage rates tick up slightly but inflation news suggests positive trends ahead

Headlines

  • The average 5-year fixed mortgage rate is now 4.85%, up from 4.62% a year ago
  • The average 2-year fixed mortgage rate is now 5.23%, up from 4.96% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.79%, up from 4.64% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.37%, up from 4.30% 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 £1,1,01 per month, up from £1,076 per month a year ago

Latest rates data

LTV

(loan to value)

  

Term

 

 Average rate 20th March 2024 Lowest rate 20th March 2024 Average rate

a year ago

 

95%

 

 2 year fixed 5.91% 5.39% 5.61%
 

95%

 

 5 year fixed 5.48% 5.09% 5.19%
 

90%

 

 2 year fixed 5.46% 5.09% 5.28%
 

90%

 

 5 year fixed 4.99% 4.64% 4.86%

 

 

 

LTV (loan to value)

  

Term

 Average rate 20th March 2024 Lowest rate 20th March 2024 Average rate

a year ago

 

85%

 

 2 year fixed 5.22% 4.86% 5.01%
 

85%

 

  

5 year fixed

 

 4.79% 4.38% 4.64%
 

75%

 

  

2 year fixed

 5.06% 4.59% 4.73%
 

75%

 

  

5 year fixed

 

 4.74% 4.36% 4.38%
 

60%

 

  

2 year fixed

 

 4.69% 4.46% 4.67%
 

60%

 

  

5 year fixed

 4.37% 4.13% 4.30%

 

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 £226.370, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,101 per month if repaying over 25 years, compared with £1,076 per month a year ago.

Average mortgage rates to be credited to Rightmove. The data is provided by specialist mortgage technology provider Podium Solutions. The data covers 95% of mortgage lending, to exclude specialist lenders. All rates are based on products with a circa £999 fee.

Rightmove

UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

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