Posts by Rightmove
Rightmove’s weekly mortgage tracker – 14/02/24
Headlines The average 5-year fixed mortgage rate is now 4.69%, down from 4.70% a year ago The average 2-year fixed mortgage rate is now 5.03%, up from 5.02% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.64%, down from 4.73% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.13%, down from 4.32% a year ago The average monthly mortgage payment on…
Read MoreRightmove’s weekly mortgage tracker 07/02/24
Headlines The average 5-year fixed mortgage rate is now 4.64%, down from 4.77% a year ago The average 2-year fixed mortgage rate is now 4.97%, down from 5.10% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.58%, down from 4.79% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.10%, down from 4.41% a year ago The average monthly mortgage payment on…
Read MoreRecord number of home valuation requests in January
· A record number of future sellers contacted an estate agent to get their home valued in January · The number of people requesting a home valuation by an estate agent was 23% higher in January than the previous record of January 2023, and 27% higher than third place July 2020 · It’s been a…
Read MoreRightmove reaction to Bank of England Base Rate hold
Matt Smith, Rightmove’s mortgage expert said: “As painful as rate rises have been for many people, there are increasing signs that Base Rate rises are having a real impact on the economy, and inflation is heading in the right direction. Another hold in the Base Rate today also shows that the Bank will also be cautious…
Read MoreRecord rents but tenant affordability ceiling leads to lowest growth since 2019
Average advertised rents outside of London rise to a new record of £1,280 per calendar month (pcm). However, this quarter’s jump of 0.2% is the smallest since 2019 as the pace of rent growth slows: Advertised rents are now 9.2% higher than last year – the lowest annual growth in rents since 2021 London rents…
Read MoreFebruary revealed as the best month to list a home for sale
February is the best month to list a home on average, with homes listed in the month typically finding a buyer the quickest, as well as being most likely to be marked sold subject to contract The data reveals that March is also historically a strong month for sellers to get their home on the…
Read MoreAfter a VAR check it appears one lender jumped the gun slightly with its rate cuts, needing a slight correction – Rightmove’s weekly mortgage tracker
Matt Smith, Rightmove’s mortgage expert said: “Some conflicting rate trends reported this morning shows that lenders are treading a fine line between offering some of the most competitive rates in many months and being caught offside by swap rate changes. Lender margins remain tight, and indeed after a VAR check it appears one lender jumped the…
Read MoreRightmove House Price Index: Tentatively promising new year start as buyer and seller activity jump
Average new seller asking prices rise by 1.3% (+£4,571) month-on-month to £359,748, the biggest December to January increase in prices since 2020, though average prices are still 0.7% lower than at this time last year There has been some tentatively promising activity in the first week of the year, markedly stronger than a year ago,…
Read More2023 review: Sandbanks is price hotspot and renters leave the city
Rightmove reveals the key trends that shaped the 2023 property market: Sandbanks in Dorset is 2023’s price hotspot, with agents reporting that popular areas with fewer homes for sale outperformed the wider market, while Rosyth in Dunfermline was the quickest market Renters look to the leave the city in search of more affordable and a…
Read MoreMortgages: Lowest rates edge closer to sub 4%
The average 5-year fixed mortgage rate is now 4.94%, down from 5.09% a year ago The average 2-year fixed mortgage rate is now 5.28%, down from 5.36% a year ago The average 85% LTV 5-year fixed mortgage rate is now 5.04%, down from 5.09% a year ago The average 60% LTV 5-year fixed mortgage rate…
Read MoreRightmove experts share rental predictions for 2024
New analysis from the UK’s biggest property website Rightmove looks at the most prominent trends expected in the rental market during 2024, with advertised rents predicted to be 5% higher by the end of 2024 outside of London, and 3% higher in London. Average advertised rents ended 2023 10% higher in the UK outside of…
Read MoreAverage 5-year fixed mortgage rate below 5% for first time since June
The average 5-year fixed mortgage rate is now 4.96% – the first time it has dipped below 5% since June 2023. Matt Smith, Rightmove’s mortgage expert said: “Rate cuts are gathering pace, as lenders jostle for position at the start of the year. This can only be good news for those looking to move home…
Read MoreRecord number of sellers come to market on Boxing Day and demand jumps by 273%
A new record number of sellers put their property up for sale on Rightmove on Boxing Day, a 26% increase on the previous record last year The number of buyers contacting estate agents about homes for sale jumped by 273% between the Christmas Day lull and Boxing Day, and was 17% higher than last Boxing…
Read MoreMortgages: A belated Christmas present of lower rates for movers
Matt Smith, Rightmove’s mortgage expert said: “It looks like lenders are likely to give early 2024 movers the belated Christmas present of lower mortgage rates. After the reduction in swap rates we saw before the holidays, this is now starting to filter through to mortgage rates now that the festivities are over and the working…
Read MoreRightmove’s weekly mortgage tracker – 20/12/23
Matt Smith, Rightmove’s mortgage expert said: “Yet another week – the 21st in a row – of marginal percentage point drops to mortgage rates is positive news for home-movers. Swap rates have also fallen further today following the early Christmas present of the lower-than-expected fall in inflation. The downward trajectory of swap rates has also…
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