Rightmove reaction to inflation data & latest mortgage rates
Matt Smith, Rightmove’s mortgage expert said: “Hopefully today’s inflation drop is the first step on the journey towards lower mortgage rates in the second half of the year. Market expectations are still that the first Bank of England rate cut is more likely to be later in the summer rather than tomorrow, but at least today’s news will keep us on course rather than throwing a curveball.”
Headlines
- The average 5-year fixed mortgage rate is now 5.03%, down from 5.39% a year ago
- The average 2-year fixed mortgage rate is now 5.44%, down from 5.81% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 5.01%, down from 5.37% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.47%, up from 5.10% 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 £1,133 per month, up from £1,167 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 19th June | Lowest rate 19th June | Average rate
a year ago |
|
95%
|
2 year fixed | 6.10% | 5.52% | 6.44% |
|
95%
|
5 year fixed | 5.72% | 5.15% | 5.87% |
|
90%
|
2 year fixed | 5.68% | 5.19% | 5.95% |
|
90%
|
5 year fixed | 5.19% | 4.71% | 5.56% |
|
LTV (loan to value) |
Term |
Average rate 19th June | Lowest rate 19th June | Average rate
a year ago |
|
85%
|
2 year fixed | 5.43% | 4.99% | 5.80% |
|
85%
|
5 year fixed
|
5.01% | 4.59% | 5.37% |
|
75%
|
2 year fixed |
5.29% | 4.83% | 5.63% |
|
75%
|
5 year fixed
|
4.89% | 4.53% | 5.23% |
|
60%
|
2 year fixed
|
4.88% | 4.75% | 5.49% |
|
60%
|
5 year fixed |
4.47% | 4.28% | 5.10% |
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 £227,757, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,133 per month if repaying over 25 years, compared with £1,167 per month a year ago.
You May Also Enjoy
Repairs are now a compliance risk: what the Renters’ Rights Act means for letting agents
Breaking Property News 18/5/26
UK’s most affordable locations for first-time buyers
House prices trending into negative territory for just second time in a decade
Homesellers face months of delays