Rightmove’s weekly mortgage tracker – 28/11/24
November 28, 2024
The current average asking price of a typical first-time buyer property is £225,340. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,104 per month if repaying over 25 years, compared with £1,138 per month a year ago (when the average first-time buyer property asking price was £223,426).
Average rates for 2-year and 5-year fixed-rate mortgages
| Term | Average rate | Weekly change | Yearly change |
| 2-year fixed | 5.09% | +0.01% | -0.46% |
| 5-year fixed | 4.86% | +0.01% | -0.27% |
Lowest rates for 2-year and 5-year fixed-rate mortgages
| Term | Lowest rate | Weekly change | Yearly change |
| 2-year fixed | 4.22% | +0.00% | -0.53% |
| 5-year fixed | 4.14% | +0.00% | -0.22% |
Updated: 28 Nov 2024
Average fixed-term mortgage rates for home-buyers with 5-10% deposits
| Loan to Value (LTV) | Term | Avg rate 21 Nov 2024 |
Avg rate 28 Nov 2024 |
Weekly Change | Yearly Change |
| 95% | 2-year-fixed | 5.65% | 5.65% | +0.00% | -0.30% |
| 95% | 5-year-fixed | 5.34% | 5.33% | -0.01% | -0.17% |
| 90% | 2-year-fixed | 5.49% | 5.49% | +0.00% | -0.29% |
| 90% | 5-year-fixed | 5.07% | 5.07% | +0.00% | -0.21% |
Average fixed-term mortgage rates for home-buyers with 15-25% deposits
| Loan to Value (LTV) | Term | Avg rate 21 Nov 2024 |
Avg rate 28 Nov 2024 |
Weekly Change | Yearly Change |
| 85% | 2-year-fixed | 5.09% | 5.10% | +0.01% | -0.58% |
| 85% | 5-year-fixed | 4.85% | 4.86% | +0.01% | -0.35% |
| 75% | 2-year-fixed | 4.83% | 4.87% | +0.04% | -0.51% |
| 75% | 5-year-fixed | 4.70% | 4.74% | +0.04% | -0.30% |
Average fixed-term mortgage rates for home-buyers with 40% deposits
| Loan to Value (LTV) | Term | Avg rate 21 Nov 2024 |
Avg rate 28 Nov 2024 |
Weekly Change | Yearly Change |
| 60% | 2-year-fixed | 4.37% | 4.38% | +0.01% | -0.52% |
| 60% | 5-year-fixed | 4.31% | 4.32% | +0.01% | -0.23% |
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.
You May Also Enjoy
Government’s Home Buying and Selling Reform
Will the Government’s Home Buying and Selling Reform Consultation Increase or decrease the speed at which the market moves? Kevin Shaw, National Sales Managing Director, LRG The government’s consultation on Home Buying and Selling Reform is a step in the right direction. It recognises what every estate agent and conveyancer already knows: property sales take…
Read More 
The Draft Leasehold and Commonhold Reform Bill
Content and clarification Comment from the Association of Leasehold Enfranchisement Practitioners (ALEP) By Shabnam Ali-Khan – Partner, Russell-Cooke Following the rushed Royal Assent of the Leasehold and Freehold Reform Act 2024, further controversy has arisen. In the King’s Speech on 17 July, the new Leasehold and Commonhold Reform Bill was announced, but the full details…
Read More 
Steady March market so far despite global uncertainty
Average new seller asking prices rise by 0.8% (+£3,023) in March to £371,042, a typical seasonal increase in prices: The number of homes for sale remains at an eleven‑year high for this time of year, limiting more significant price growth and reinforcing the need for sellers to price more competitively to attract buyer interest The…
Read More 
AI property search not yet mainstream
The latest research by GetAgent.co.uk has revealed that while artificial intelligence is increasingly being embraced across the property industry, the technology has yet to become a mainstream tool for buyers and sellers when it comes to searching for and marketing homes. GetAgent commissioned a survey* of UK estate agents to understand how widely AI-powered search…
Read More 
70% of Britain’s housing market is in recovery with prices trending upwards
The latest research from Yopa reveals that 70% of the British housing market is now in recovery with prices trending upwards following the challenging conditions of the past two years. This is despite the broader national picture showing that average house prices have edged down over the last six months. Yopa analysed six months of…
Read More 
Breaking Property News 12/3/26
Daily bite-sized proptech and property news in partnership with Proptech-X. ‘The actual work, making smart procurement decisions, protecting the owner’s budget was buried under a mountain of emails and calls’ Rihards Trops CEO of TenderPro Every property manager knows the feeling. You need to find a contractor, get three comparable quotes, coordinate site visits,…
Read More