Rightmove Weekly Mortgage Rates – 14/02/25
Rightmove’s mortgage expert Matt Smith says: “It’s another week of average rate drops, and the response from the market since the Bank Rate cut has been positive. We hope to now see a sustained period of mortgage rates trickling downwards to lead us through the Spring selling season.”
On the first sub-4% mortgage rate
Matt says: “The first sub 4% rate is a big sentiment boost for the market, after a fairly bumpy start to the year where lots of economic news has been thrown at us. Expect to see other lenders follow suit over the next few weeks to try and capitalise on the busiest period of the year for the home-moving market. The big test will be whether this positive momentum continues later in the year, and more mass-market movers are able to access rates closer to 4% – the average is still closer to 5%.”
On future trends in the mortgage market
Matt says: “The gap between the average 5-year fixed rate and 2-year fixed rate is now just 0.2%. This time last year, it was nearly double that. Average 2-year and 5-year fixed rates are at their closest since before the mini-Budget, which naturally means shorter-terms will become more popular. We’re already seeing a larger proportion of movers choose two-year deals compared with the peak-rate period. We may even see some two-year products become the cheaper option for some product types this year.”
Average rates for 2-year and 5-year fixed-rate mortgages
| Term | Average rate | Weekly change | Yearly change |
| 2-year fixed | 4.93% | -0.04% | -0.12% |
| 5-year fixed | 4.73% | -0.04% | +0.02% |
Lowest rates for 2-year and 5-year fixed-rate mortgages
| Term | Lowest rate | Weekly change | Yearly change |
| 2-year fixed | 4.15% | +0.00% | -0.05% |
| 5-year fixed | 3.99% | -0.01% | +0.05% |
Average fixed-term mortgage rates for home-buyers with 5-10% deposits
| Loan to Value (LTV) | Term | Avg rate 07 Feb 2025 |
Avg rate 14 Feb 2025 |
Weekly Change | Yearly Change |
| 95% | 2-year-fixed | 5.69% | 5.68% | -0.01% | -0.13% |
| 95% | 5-year-fixed | 5.39% | 5.37% | -0.02% | +0.01% |
| 90% | 2-year-fixed | 5.34% | 5.30% | -0.04% | +0.02% |
| 90% | 5-year-fixed | 4.98% | 4.95% | -0.03% | +0.11% |
Average fixed-term mortgage rates for home-buyers with 15-25% deposits
| Loan to Value (LTV) | Term | Avg rate 07 Feb 2025 |
Avg rate 14 Feb 2025 |
Weekly Change | Yearly Change |
| 85% | 2-year-fixed | 4.90% | 4.87% | -0.03% | -0.19% |
| 85% | 5-year-fixed | 4.76% | 4.73% | -0.03% | +0.07% |
| 75% | 2-year-fixed | 4.78% | 4.73% | -0.05% | -0.14% |
| 75% | 5-year-fixed | 4.63% | 4.59% | -0.04% | -0.01% |
Average fixed-term mortgage rates for home-buyers with 40% deposits
| Loan to Value (LTV) | Term | Avg rate 07 Feb 2025 |
Avg rate 14 Feb 2025 |
Weekly Change | Yearly Change |
| 60% | 2-year-fixed | 4.39% | 4.32% | -0.07% | -0.15% |
| 60% | 5-year-fixed | 4.26% | 4.22% | -0.04% | +0.05% |
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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