Rightmove’s weekly mortgage tracker 01/11/23

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Headline stats 

  • The average 5-year fixed mortgage rate is now 5.38%, down from 6.02% a year ago
  • The average 2-year fixed mortgage rate is now 5.84%, down from 6.24% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 5.48%, down from 6.01% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.95%, down from 5.80% 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 £1,168 per month, down from £1,232 per month a year ago

 

Latest rates data

 

LTV

(loan to value)

 

Term

 

Average rate 31st October 2023 Lowest rate 31st October 2023 Average rate

a year ago

 

95%

 

2 year fixed 6.26% 5.99% 6.60%
 

95%

 

5 year fixed 5.77% 5.59% 6.23%
 

90%

 

2 year fixed 6.09% 5.70% 6.41%
 

90%

 

5 year fixed 5.55% 5.15% 6.17%

 

 

 

LTV (loan to value)

 

Term

Average rate 31st October 2023 Lowest rate 31st October 2023 Average rate

a year ago

 

85%

 

2 year fixed  

6.00%

 

5.54%

6.26%
 

85%

 

 

5 year fixed

 

 

5.48%

 

5.00%

6.01%
 

75%

 

 

2 year fixed

 

5.61%

 

5.24%

6.06%
 

75%

 

 

5 year fixed

 

5.18% 4.74% 5.85%
 

60%

 

 

2 year fixed

 

5.40% 5.14% 6.02%
 

60%

 

 

5 year fixed

4.95% 4.64% 5.80%

 

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 £224,263, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,168 per month if repaying over 25 years, compared with £1,232 per month a year ago.

Rightmove

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

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