Rightmove weekly mortgage tracker 11/05/23

May 11, 2023
Love or Hate Rightmove

Rightmove’s mortgage expert Matt Smith says: “Average mortgage rates have continued to rise over the last week ahead of the expected increase in the Bank of England Base Rate tomorrow, as the underlying costs of fixed rate mortgages factor in a potential rise. However, rates across all Loan-To-Value ranges (LTV) have only increased by an average of 0.06% compared to last week. The 75% LTV category has seen the highest increase across both two-year and five-year fixed rates, while the smaller deposit 90% & 95% LTV two-year deals have seen the smallest increases.

“Looking ahead, the direction of rates over the coming week will be heavily influenced by the Bank of England’s analysis on inflation, and the future path for the Base Rate, which will accompany the decision tomorrow. If the Bank outlines a positive view on the prospect for inflation and Base Rates, we could see mortgage rates fall, as they have done after recent Base Rate decisions. But if the Bank is more cautious, we can expect rates to continue their upward trend in the short term.”

LTV

(loan to value)

  

Term

 

 Average rate

3rd May 2023

 Average rate

10th May 2023

 Weekly Change Average rate

a year ago

 

85%

 

 5 year fixed 4.44% 4.52% +0.08% 2.84%
 

60%

 

 5 year fixed 4.17% 4.23% +0.06% 2.55%

 

 

 

LTV (loan to value)  

Term

 

 Average rate

3rd May 2023

 Average rate

10th May 2023

 Weekly Change Average rate

a year ago

 

95%

 

 2 year fixed 5.45% 5.47% +0.02% 3.19%
 

95%

 

 5 year fixed 5.10% 5.18% +0.08% 3.46%
 

90%

 

 2 year fixed 5.04% 5.07% +0.03% 2.80%
 

90%

 

 5 year fixed 4.69% 4.75% +0.06% 2.97%

 

 

 

 

LTV (loan to value)

  

Term

 Average rate

3rd May 2023

 Average rate

10th May 2023

 Weekly Change Average rate

a year ago

 

85%

 

  

2 year fixed

  

4.79%

  

4.85%

 +0.06%  

2.70%
 

85%

 

  

5 year fixed

 

  

4.44%

  

4.52%

 +0.08%  

2.84%
 

75%

 

  

2 year fixed

  

4.58%

  

4.67%

 +0.09%  

2.60%
 

75%

 

  

5 year fixed

 

  

4.26%

  

4.36%

 +0.10%  

2.65%
 

60%

 

  

2 year fixed

 

  

4.51%

  

4.57%

 +0.06%  

2.52%
 

60%

 

  

5 year fixed

  

4.17%

  

4.23%

 +0.06%  

2.55%

 

Rightmove

UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

You May Also Enjoy

Breaking News

Rental price and average salary tracker – March 2026

Rents Plateau, But UK Market Tells Regional Story Significant comparisons include across Scotland where average agreed rents rose to £1,123, representing a 4.95% increase month and month across the nation. Northern Ireland saw the second largest average monthly rents rise, bringing an increase of 3.99% to an average agreed price of £887 compared to £853…
Read More →
Breaking News

Breaking Property News 9/4/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Why Rightmove is making all the wrong moves   In a world reshaped by AI, incumbency is no longer protection. It is exposure. Thought Leadership By Andrew Stanton, CEO Proptech-PR Rightmove has long been the unassailable giant of UK property portals—a category-defining platform that, for years, operated…
Read More →
Breaking News

Six property firms expelled from redress scheme

Six property businesses have been expelled from The Property Ombudsman after failing to pay compensation awards. The expulsions followed a review by the scheme’s independent Compliance Committee, which agreed that each firm should be removed for breaching their membership obligations by not complying with Ombudsman decisions. The Property Ombudsman, which provides impartial dispute resolution for…
Read More →
Home and Living

Best garden renovations to increase property value this spring

With spring fast approaching and warmer weather finally in sight, now is the perfect time to step outside and give your garden the well-deserved TLC and refresh it needs after such a wet and dreary start to the year. Whether it’s refreshing planting beds, updating patio areas or rethinking your layout, investing time into your…
Read More →
Breaking News

Prime London property market stays firm

The latest Prime London Demand Index by London lettings and estate agent, Benham and Reeves, reveals that, despite broad economic uncertainty, buyer demand across London’s most prestigious neighbourhoods avoided a decline during the first quarter of 2026, with the likes of Chelsea, Battersea, Highgate, and Belgravia seeing quarterly demand increases of above 5%. The Prime…
Read More →
Breaking News

More first-time buyers enter the market in 2026

The latest research by Yopa has revealed that first-time buyer demand has strengthened during the first quarter of 2026, despite the supply of homes offering the benefit of a buying scheme remaining limited. Yopa analysed first-time buyer demand based on the proportion of homes listed under buying schemes* that have already sold subject to contract…
Read More →