Rightmove comment on mortgage market and mortgage rates update
Matt Smith, Rightmove’s mortgage expert says:
“As stamp duty deadline day arrives, average mortgage rates have remained steady since last week’s Spring Budget and unexpected drop in inflation rate. The lowest available mortgage rate is still a 2-year fixed deal at 3.86%, for those with the largest deposits, as the short-term outlook for rates remains much improved compared with last year. However, the markets are currently less certain about a second Bank Rate cut of the year in May, which may get pushed to June. Once a cut does happen, it could help to push forward further mortgage rate cuts from lenders.”
Update on mortgage rates
Average rates for 2-year and 5-year fixed-rate mortgages
| Term | Average rate | Weekly change | Yearly change |
| 2-year fixed | 4.87% | -0.01% | -0.36% |
| 5-year fixed | 4.73% | -0.01% | -0.11% |
Lowest rates for 2-year and 5-year fixed-rate mortgages
| Term | Lowest rate | Weekly change | Yearly change |
| 2-year fixed | 3.86% | +0.00% | -0.60% |
| 5-year fixed | 3.96% | +0.00% | -0.17% |
Average fixed-term mortgage rates for home-buyers with 5-10% deposits
| Loan to Value (LTV) | Term | Avg rate 22 Mar 2025 |
Avg rate 29 Mar 2025 |
Weekly Change | Yearly Change |
| 95% | 2-year-fixed | 5.66% | 5.66% | +0.00% | -0.25% |
| 95% | 5-year-fixed | 5.36% | 5.35% | -0.01% | -0.12% |
| 90% | 2-year-fixed | 5.18% | 5.17% | -0.01% | -0.29% |
| 90% | 5-year-fixed | 4.91% | 4.91% | +0.00% | -0.07% |
Average fixed-term mortgage rates for home-buyers with 15-25% deposits
| Loan to Value (LTV) | Term | Avg rate 22 Mar 2025 |
Avg rate 29 Mar 2025 |
Weekly Change | Yearly Change |
| 85% | 2-year-fixed | 4.86% | 4.83% | -0.03% | -0.39% |
| 85% | 5-year-fixed | 4.72% | 4.70% | -0.02% | -0.09% |
| 75% | 2-year-fixed | 4.63% | 4.62% | -0.01% | -0.43% |
| 75% | 5-year-fixed | 4.54% | 4.53% | -0.01% | -0.18% |
Average fixed-term mortgage rates for home-buyers with 40% deposits
| Loan to Value (LTV) | Term | Avg rate 22 Mar 2025 |
Avg rate 29 Mar 2025 |
Weekly Change | Yearly Change |
| 60% | 2-year-fixed | 4.25% | 4.24% | -0.01% | -0.44% |
| 60% | 5-year-fixed | 4.20% | 4.21% | +0.01% | -0.13% |
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