An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker
April 24, 2024
Headlines
- The average 5-year fixed mortgage rate is now 4.89%, up from 4.45% a year ago
- The average 2-year fixed mortgage rate is now 5.29%, up from 4.75% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 4.82%, up from 4.42% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.36%, up from 4.15% 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 £1,108 per month, up from £1,054 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 24th April 2024 | Lowest rate 24th April 2024 | Average rate
a year ago |
|
95%
|
2 year fixed | 6.02% | 5.47% | 5.48% |
|
95%
|
5 year fixed | 5.55% | 5.09% | 5.10% |
|
90%
|
2 year fixed | 5.54% | 5.13% | 5.03% |
|
90%
|
5 year fixed | 5.08% | 4.64% | 4.67% |
|
LTV (loan to value) |
Term |
Average rate 24th April 2024 | Lowest rate 24th April 2024 | Average rate
a year ago |
|
85%
|
2 year fixed | 5.26% | 4.86% | 4.76% |
|
85%
|
5 year fixed
|
4.82% | 4.38% | 4.42% |
|
75%
|
2 year fixed |
5.12% | 4.65% | 4.55% |
|
75%
|
5 year fixed
|
4.76% | 4.36% | 4.24% |
|
60%
|
2 year fixed
|
4.74% | 4.46% | 4.48% |
|
60%
|
5 year fixed |
4.36% | 4.13% | 4.15% |
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 £227,110, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,108 per month if repaying over 25 years, compared with £1,054 per month a year ago.
You May Also Enjoy
What the Autumn Budget 2025 means for downsizers
Now that the dust has settled on what was a hotly anticipated Autumn Budget from the UK government, over-50s property specialist Regency Living has produced a concise guide to the implications for the nation’s downsizers, and concluded that this Budget is going to further increase demand on England’s park home market. The 2025 Autumn Budget was…
Read More 
Boxing Day Bounce Set to Kick-Start 2026 Housing Market
Propertymark is forecasting another strong “Boxing Day Bounce” this year, as millions of prospective buyers and renters are expected to jump online on 26 December in search of a new home, triggering one of the busiest property marketing days of the year. Boxing Day has become a pivotal moment for the housing market. With families…
Read More 
Post-Budget Bounce in Homebuyer Activity
The latest research by eXp UK has revealed that the market could be set for a festive surge in homebuyer activity now that the Autumn Budget dust has settled, with the vast majority of prospective buyers preparing to resume their search and many even willing to conduct viewings during the Christmas period itself. The survey of…
Read More 
Nationwide House Price Index for November 2025
The latest Nationwide House Price Index for November 2025 shows: House prices increased by 0.3% between October and November of this year. On an annual basis, the average house price increased by 1.8%, down from a 2.2% annual rate of growth in October. As a result, the average UK house price now sits at £272,998.…
Read More 
Annual house price growth slows in November
Annual house price growth softens slightly to 1.8% House prices were up 0.3% month on month Headlines Nov-25 Oct-25 Monthly Index* 545.9 544.3 Monthly Change* 0.3% 0.2% Annual Change 1.8% 2.4% Average Price (not seasonally adjusted) £272,998 £272,226 * Seasonally adjusted figure (note that monthly % changes are revised when seasonal adjustment factors are…
Read More 
Real Estate 2026: Trends to watch, challenges to tackle, opportunities to seize
By Howard Sefton, Managing Director, Real Estate at Ingenious As we move into 2026, the UK real estate market stands at a pivotal crossroads. Economic uncertainty, political shifts, and changing lifestyles are converging to reshape how people live, work, rent, and invest. With a major Budget announced just weeks before year-end, the sector faces a…
Read More