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.
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