Rightmove reaction to the Bank of England Base Rate decision
Matt Smith, Mortgage Expert at Rightmove, said:
“Today’s decision to hold the Bank Rate was widely expected, and for most homeowners and home‑buyers, there’s no immediate change to worry about. For those looking to secure a new mortgage rate or coming up to remortgage, even small rises in rates can have a real impact on monthly budgets, and lenders are very aware of that.
“Recent geopolitical uncertainty has made financial markets more volatile. That volatility feeds into swap rates, which are the underlying costs lenders use to price fixed‑rate mortgages. As a result, some mortgage rates have nudged up slightly this week, even though the Bank Rate itself hasn’t changed.
Lenders are being understandably cautious in this environment. Some are quicker than others to adjust rates, which can lead to uneven changes across the market.
“These recent rises are understandably concerning for anyone preparing to take out a new mortgage or remortgage. Even a small increase can make a real difference to how a monthly budget feels. For context, the average monthly mortgage payment on a new purchase has increased by around £45 so far, but is still around £70 lower than it would have been at this time last year.
“This is an unfortunate but expected pattern in the way mortgage pricing moves when markets are unsettled. For now, the Bank Rate remains stable, mortgage rates remain significantly lower than the peaks seen last year, and there continues to be strong competition among lenders – even if some buyers choose to pause while the picture settles.”
Average rates for 2-year and 5-year fixed-rate mortgages
| Term | Average rate | Weekly change | Yearly change |
| 2-year fixed | 4.76% | +0.25% | -0.12% |
| 5-year fixed | 4.86% | +0.28% | +0.12 |
Average fixed-term mortgage rates for home-buyers with 5-10% deposits
| Loan to Value (LTV) | Term | Avg rate 12 Mar 2026 |
Avg rate 19 Mar 2026 |
Weekly Change | Yearly Change |
| 95% | 2-year-fixed | 5.31% | 5.50% | +0.19% | -0.17% |
| 95% | 5-year-fixed | 5.29% | 5.51% | +0.22% | +0.14% |
| 90% | 2-year-fixed | 4.62% | 4.88% | +0.26% | -0.31% |
| 90% | 5-year-fixed | 4.67% | 4.96% | +0.29% | +0.05% |
* March 19, 2026
These rates are provided by Podium and are an average based on 95% of the mortgage market. All rates are based on products with a circa £999 fee.
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