An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker

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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.

Rightmove

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

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