Rightmove’s weekly mortgage tracker – 06/12/23
December 6, 2023
- The average 5-year fixed mortgage rate is now 5.11%, down from 5.36% a year ago
- The average 2-year fixed mortgage rate is now 5.52%, down from 5.61% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 5.20%, down from 5.37% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.51%, down from 5.06% 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 £1,132 per month, down from £1,153 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 5th December 2023 | Lowest rate 5th December 2023 | Average rate
a year ago |
|
95%
|
2 year fixed | 5.95% | 5.85% | 6.16% |
|
95%
|
5 year fixed | 5.50% | 5.30% | 5.85% |
|
90%
|
2 year fixed | 5.77% | 5.39% | 5.89% |
|
90%
|
5 year fixed | 5.26% | 4.85% | 5.61% |
|
LTV (loan to value) |
Term |
Average rate 5th December 2023 | Lowest rate 5th December 2023 | Average rate
a year ago |
|
85%
|
2 year fixed |
5.66% |
5.15% |
5.64% |
|
85%
|
5 year fixed
|
5.20% |
4.71% |
5.37% |
|
75%
|
2 year fixed |
5.36% |
4.78% |
5.39% |
|
75%
|
5 year fixed
|
5.02% | 4.46% | 5.14% |
|
60%
|
2 year fixed
|
4.90% | 4.75% | 5.34% |
|
60%
|
5 year fixed |
4.51% | 4.36% | 5.06% |
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 £223,426, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,132 per month if repaying over 25 years, compared with £1,153 per month a year ago.
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