Rightmove’s weekly mortgage tracker – 14/02/24
February 14, 2024
Headlines
- The average 5-year fixed mortgage rate is now 4.69%, down from 4.70% a year ago
- The average 2-year fixed mortgage rate is now 5.03%, up from 5.02% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 4.64%, down from 4.73% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.13%, down from 4.32% 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 £1,066 per month, down from £1,076 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 14th February 2024 | Lowest rate 14th February 2024 | Average rate
a year ago |
|
95%
|
2 year fixed | 5.73 | 5.15 | 5.64 |
|
95%
|
5 year fixed | 5.33 | 4.84 | 5.28 |
|
90%
|
2 year fixed | 5.26 | 4.89 | 5.44 |
|
90%
|
5 year fixed | 4.81 | 4.47 | 4.97 |
|
LTV (loan to value) |
Term |
Average rate 14th February 2024 | Lowest rate 14th February 2024 | Average rate
a year ago |
|
85%
|
2 year fixed | 5.03 | 4.64 | 5.06 |
|
85%
|
5 year fixed
|
4.64 | 4.32 | 4.73 |
|
75%
|
2 year fixed |
4.85 | 4.30 | 4.79 |
|
75%
|
5 year fixed
|
4.59 | 4.14 | 4.47 |
|
60%
|
2 year fixed
|
4.46 | 4.20 | 4.63 |
|
60%
|
5 year fixed |
4.13 | 3.94 | 4.32 |
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 £222,473, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,066 per month if repaying over 25 years, compared with £1,076 per month a year ago.
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