Rightmove’s weekly mortgage tracker – 16/01/25
Average mortgage rates drop despite mixed economic news
Commenting on the drop in average rates this week, Rightmove’s mortgage expert Matt Smith says: “Despite all of the economic news we’ve had this week, average rates have fallen. It shows that despite the challenges affecting the mortgage market at the moment, lenders are keen to maximise the busy buying period and offer as low rates as possible. It’s also important to note that the biggest drops we’ve seen are in the mass-market, for those with a smaller deposit of around 10-15%. Things are moving quite quickly day to day at the moment, but the anticipated rate cut in early February will be an important milestone to get to this year.”
Average rates for 2-year and 5-year fixed-rate mortgages
| Term | Average rate | Weekly change | Yearly change |
| 2-year fixed | 4.97% | -0.05% | -0.10% |
| 5-year fixed | 4.75% | -0.04% | -0.03% |
| Term | Lowest rate | Weekly change | Yearly change |
| 2-year fixed | 4.20% | +0.00% | +0.10% |
| 5-year fixed | 4.07% | +0.00% | +0.19% |
Average fixed-term mortgage rates for home-buyers with 5-10% deposits
| Loan to Value (LTV) | Term | Avg rate 09 Jan 2025 |
Avg rate 16 Jan 2025 |
Weekly Change | Yearly Change |
| 95% | 2-year-fixed | 5.63% | 5.68% | +0.05% | -0.07% |
| 95% | 5-year-fixed | 5.35% | 5.36% | +0.01% | +0.06% |
| 90% | 2-year-fixed | 5.44% | 5.36% | -0.08% | +0.06% |
| 90% | 5-year-fixed | 5.02% | 4.97% | -0.05% | +0.11% |
Average fixed-term mortgage rates for home-buyers with 15-25% deposits
| Loan to Value (LTV) | Term | Avg rate 09 Jan 2025 |
Avg rate 16 Jan 2025 |
Weekly Change | Yearly Change |
| 85% | 2-year-fixed | 5.08% | 4.91% | -0.17% | -0.21% |
| 85% | 5-year-fixed | 4.83% | 4.69% | -0.14% | -0.11% |
| 75% | 2-year-fixed | 4.77% | 4.75% | -0.02% | -0.13% |
| 75% | 5-year-fixed | 4.63% | 4.61% | -0.02% | -0.10% |
Average fixed-term mortgage rates for home-buyers with 40% deposits
| Loan to Value (LTV) | Term | Avg rate 09 Jan 2025 |
Avg rate 16 Jan 2025 |
Weekly Change | Yearly Change |
| 60% | 2-year-fixed | 4.32% | 4.36% | +0.04% | -0.03% |
| 60% | 5-year-fixed | 4.22% | 4.26% | +0.04% | +0.11% |
These rates are provided by Podium and are an average based on 95% of the mortgage market. All rates are based on products with a circa £999 fee.
You May Also Enjoy
Bigger Boxing Day bounce expected, as prices to rise 2% in 2026
UK Finance Mortgage Market Forecast 2026-2027
Home Alone still most valuable Christmas TV property
Housing Insight Report October 2025
9 luxury property features to impress Christmas guests